HomeBusiness Magazine for English readers living in Tianjin, Binhai and North China. Expats and locals can find updated News, Events, Business Opportunities, Rent and Sale, Transportation, Train, Flights Schedule, Hotels, Restaurants, Bars, Entertainment,...http://businesstianjin.com/index.php?option=com_content&view=frontpage&Itemid=1
Sat, 25 May 2019 14:54:17 +0000Joomla! 1.5 - Open Source Content Managementen-gbBusiness Tianjin OUT! May 2019 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=14305:business-tianjin-out-may-2019-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=14305:business-tianjin-out-may-2019-edition&catid=2:tianjin-finance&Itemid=27Gaining a strong reputation as the fastest-growing IB World School, which is offering unique international and bilingual education for foreign and Chinese students, the Beijing International Bilingual Academy (BIBA) has opened three campuses since its establishment in 2006.

Tianjin Campus is the second campus of BIBA and it is a vibrant international boarding school, which prides on forming students to become internationally-minded bilingual ambassadors and champions of inter-cultural understanding, respect and integration in a dynamic global community. We have the opportunity to interview Joseph J. Azmeh, Executive Head of School, Tianjin Campus of BIBA and feature in our cover story. It was a real pleasure talking to Joseph and learning the noble spirit behind BIBA and his passion as an educator.

We laud BIBA and Tianjin Campus’ excellent facilities, fantastic team of foreign and local teachers & administrative staff and this great opportunity to enrol our kids in this unique international and bilingual learning environment.

From the macro economy point of view, China has witnessed a rebound, as indicated by the recently released numbers. Retail sales, industrial production, fixed asset investments, and trade balance saw positive developments. Some economists believe that the government’s efforts to stimulate the economy are showing some effects. The progress made in the trade talks with United States has contributed to the improvement.

Michael Hart, who has spent more than 20 years in China in the commercial real estate industry and over a decade of that time in Tianjin, provides us with an excellent explanation how to benchmark our Real Estate Cost. Don’t miss it!

Our column Last Word is dedicated to the Great Wall Marathon that has the reputation for being one of the world’s toughest marathon courses for competitors to compete on. It will take place on 18th of May, 2019. You can read the details inside of this issue.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

International Women’s Day is celebrated on the 8th of March, annually providing an important moment to showcase commitment to women’s achievements, raise awareness, and highlight gender parity gains, and more. So, each year on this day, the world inspires women and celebrates their achievements.

Business Tianjin Magazine in tandem with Shangri-La Hotel, Tianjin, were able to host a leadership Lunch at the Shang Palace Chinese Restaurant, celebrating the limitless potential of women and allowing the top Women leaders and executives of Tianjin to network and connect with each other in order to enhance their important roles in the society to build a better tomorrow, and to empower women of the future.

The Chinese economy has printed downbeat numbers, many of which are far below expectations. The numbers do not come as a surprise to many who were waiting for the economy to show signs of a slowdown. Global demand is weakening due to slower global growth. The domestic market in China seems to be faltering, manufacturing activity is shrinking in medium and small size factories, but while the economy is showing signs of weakness, many analysts are still optimistic and believe that many tools can be used to stimulate the economy.

In early March, at the “Two Sessions” of the National People’s Congress, the chairman of the NPC standing committee, Li Zhangshu, noted that a property tax would be among those taxes that would soon be implemented, without specifying exactly what that time line was. This is at least the third time this topic has been brought up at this level, signalling action is coming. Michael Hart, an expert of the Real Estate sector in China provided to us a good introduction of this topic in this issue.

You also should not miss the Tech article as well. While it definitely sounds bizarre and indistinguishable from a sci-fi movie plot, the day is probably not too far when tiny robots, known as nanobots, will roam freely inside your body to detect and cure various health hazards, including humanity’s worst nemesis: Cancer. Amazing, right?

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

38 REAL ESTATE: How China’s proposed property tax will make help renters and first-time buyers

40 TAX & FINANCE: Commercial Dispute Resolution

43 Legal Assistance: The Impact of New Individual Income Tax Laws on Foreign Individuals Working in China

48 TECH: Nanobots to be deployed in fight against Cancer

50 MARKETING: The Use of Data Analytics in Marketing

52 HR: HR transition to the cloud

54 CHAMBER REPORTS

56 LISTINGS

62 ART & LEISURE: Importance of Time in Chinese Culture

64 BOOK REVIEW: The Chinese Economy Adaptation and Growth

65 LAST WORDS: A Mindful Eater

]]>frontpageMon, 01 Apr 2019 04:24:25 +0000Business Tianjin OUT! March 2019 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=14152:business-tianjin-out-march-2019-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=14152:business-tianjin-out-march-2019-edition&catid=2:tianjin-finance&Itemid=27The decision to delay the imposition of higher trade tariffs by USA to China doesn’t mean the end of economic hostilities between the world’s biggest two economies, but it is a positive sign. It’s clearly not the end of difficult negotiations, let alone of the underlying tension between the two countries. The tariff suspension and, possibly, a more lasting agreement would be a positive for international trade and business in both countries, as well as the global economy more generally.

According to data, 6.6% GDP growth in 2018 is the lowest recorded annual growth rate in the past 28 years. Data for the last quarter of 2018 indicate 6.4% growth. Due to events in global economic environment, this year’s economic growth target is expected to be specified as a range from 6% to 6.5%. The official 2019 target is though expected to be revealed at the annual parliamentary session in March.

A study indicates that the optimal time employees should spend communicating with their managers is six hours a week. The number perhaps seems surprising for many organizations, but the fact is that they are increasingly considering higher productivity rates from their employees after they have spent some quality time with their managers. As a matter of fact, employees, who have been spending good time with their managers, are 30% more engaged and 15% more motivated. HR section is explaining what employees want from performance management.

This month’s cover is about culture and nature in hotels, the emphasis is on Banyan Tree Riverside Tianjin. Specialized in resorts, a sanctuary for the senses, as they like to explain, they offer unique and modern accommodations in town, where you can look for some moments of relax and serenity after a hard working day. We have talked this month with John Bao, General Manager of Banyan Tree Tianjin Riverside Hotel, to know better this city resort for Urban Vacations.

In Depth column reports China’s very ambitious moon programme, under the Economy of the Space title, which the European Space Agency hopes to collaborate with and further their advances to the Moon.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

German Chamber of Commerce in Tianjin will celebrate its 10th Years Anniversary with a Spring Reception on Friday, February 22nd, the first and major high-level gathering of the year.

This event is also quite memorable for Dr. Björn Lindemann, who has personally witnessed the Tianjin Office’s remarkable development as the former Tianjin Office Head and presently sits as a Board Member of the German Chamber of Commerce North China. Dr. Lindemann eventually joined Haver Technologies Tianjin in 2015, and Business Tianjin was honored to talk with him in this important milestone.

In December economic data of China were weaker than analysts had hoped for. Both exports and imports are declining, and manufacturing activity is slowing down. The government is taking several measures to provide another layer of support over the long term; such increase the liquidity to People’s bank of China, infrastructure investment, fiscal incentives for households and firms, and more support to small businesses. Despite the current challenges, the economy is still resilient and growing, albeit at a slower rate. The developments in 2019 are yet to be fully seen, and it is too early to predict a too pessimistic or optimistic scenario.

The debt rate in China has enormously constructed to approximately 260% to 300% of the size of the GDP. This has raised questions regarding the potential financial scenarios that are looming in front of our site. You can read in our In Depth column an analysis about this important topic.

There are many other interesting articles this month, and I invite you to read them all after having checked our content page. We are sure you will find topics that will help you in your professional and personal life, such the ways blockchain technology will impact the marketing world, how China is making a huge breakthrough bringing smart technologies into the agricultural sector, and why Chinese have been tagged as the fastest adopting and most e-savvy people in the world.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

63 LAST WORDS: Climate changes pose a threat to increase in beer prices

]]>frontpageWed, 30 Jan 2019 07:00:41 +0000Business Tianjin OUT! January 2019 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=14012:business-tianjin-out-january-2019-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=14012:business-tianjin-out-january-2019-edition&catid=2:tianjin-finance&Itemid=27The Inspiring Learning Conference will be hosted by Wellington College on the 26th and 27th of January in Tianjin. Keen to find out more about this transforming landscape, Business Tianjin Magazine spoke to the Senior Director of Academics for Wellington College China, Dr Ahmed Hussain. We wish this conference to become a successful event and great milestone in the bilingual education system of China.

Michael Hart provided to us an interesting review of Tianjin real estate market of past year 2018. Several key themes took center stage, such as the opening of much anticipated office and retail projects, new subway lines and stations, etc… Don’t miss it.

The economic slowdown seems to be continuing from the month before, signaling that the effects of the trade war may be beginning to show. Although the data showed growth, the deceleration of that growth should warrant attention. Analysts fear that the effects may extend beyond China’s borders and reach the global economy, given China’s importance as a vital producer and consumer on the global stage.

Recently we have got the news of many examples of China’s market opening up. German insurance company, Allianz, will be the first one to get the permission to set up an entirely foreign owned insurance holding in China. This move has come as a huge surprise, because something like this was not expected in at least next three to four years, based on Beijing’s earlier announcements. We did a deep analysis of this news in the Investment column.

In this issue, we also focus in the Chinese wine industry to know more about the 2nd world’s largest consumption market in 2020, not only based on the importation of world-class wines, but also on its own production.

There are many other interesting articles this month, and I invite you to read them all after having checked our content page. We are sure you will find topics that will help you in your professional and personal life, such as the benefits of diversity at workplace, the recent currency War or even the first battery-free phone.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

]]>frontpageSat, 29 Dec 2018 09:19:44 +0000Business Tianjin OUT! December 2018 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=13948:business-tianjin-out-december-2018-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=13948:business-tianjin-out-december-2018-edition&catid=2:tianjin-finance&Itemid=27Elegantly poised alongside the Hai He River, you will find what could be arguably Tianjin’s most exquisite hotel. Furnished with luxurious gold and marble décor, Wanda Vista Tianjin’s splendour is unlike any other. Eager to find out more, Business Tianjin spoke to its General Manager, Nikolaos Chatzipetros, to get an insight on staff training, the inspiration behind the splendid interior and guest requests that you would not expect to hear about.

It has been 10 years since the crisis that shook the financial world in 2008 and led major economies to recession afterwards. Collapse of Lehman brothers marked the first event in a series of catastrophic events that followed. Major global economies entered into what has been dubbed the great recession. Western economies contracted and struggled, and even today 10 years after the crisis, their levels of growth are highly unsustainable for a variety of reasons, whereas economies like China have been growing at rates above 8% and 10% annually, and recently above 6%. Next few decades, eastern countries will be setting global governance frameworks and models.

Recently, evidence of slowdown in the Chinese economy is mixed. Growth still continues but there are some signs of faltering in some segments. Banks need a boost and property sector needs constant monitoring to avoid overheating. Effects of the US-China trade war may not be felt to their true extent until after the tariffs take full effect in Januray 2019.

In this issue, the focus column point out 5 topics that you should be aware of, not only to better understand the reality of China but also if you want to do business here.

There are many other interesting articles this month, and I invite you to read them all after having checked our content page. We are sure you will find topics that will help you in your professional and personal life, such the benefits of diversity at workplace, the recently currency War or even the first battery-free phone.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

69 LAST WORDS: Why Do Parents Send their Children Abroad for Schooling?

]]>frontpageFri, 30 Nov 2018 02:15:41 +0000Business Tianjin OUT! November 2018 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=13865:business-tianjin-out-november-2018-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=13865:business-tianjin-out-november-2018-edition&catid=2:tianjin-finance&Itemid=27China and the US seem to be locked in a trade war that is not likely to end well if it continues on the same path. It is growing into lose-lose situation gradually, with the entire effects not being felt as yet. America stands to lose more with increasing retaliation against its tariffs, and it is bound to become increasingly isolated. Effects of the trade war have yet to be entirely felt for the reason that many investors plan their investments one year in advance, and it takes time to steer away and change direction. But once the effects start to kick in, it can be too costly for the entire global economy. You can get more information about this issue in our Feature Story.

This month we interact with Paris Luo, a polo enthusiast whose dream is to promote women’s polo in China. She is a pioneer of women polo elite education in the Middle Kingdom. She founded the 1003 Polo, and chaired the establishment of 1003 Rose Polo School. Her story took place in the outskirts of Tianjin, particularly the exclusive Goldin Metropolitan Polo Club which is regarded as being the largest polo facility in China. Increasingly, wealthy parents now prefer that their childrenshould take on polo and other equestrian sports. Read this cover story to know more details about the plan to popularize this exclusive sport among Elite Women of Tianjin.

In our Dialogue section we have interacted with the best Chinese specialist in global exchange to know a bit more about a major advancement to encourage worldwide exchange and venture, Hainan Free Trade Zone. It is an important milestone in the market open policy that the Chinese government is promoting over the recent months to become the main engine of stable development of the Global Economy.

There are many other interesting articles this month, and I invite you to read them all after having checked our content page. We are sure you will find topics that will help you in your professional and personal life.

Visit www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

]]>frontpageWed, 31 Oct 2018 05:16:54 +0000Business Tianjin OUT! October 2018 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=13787:business-tianjin-out-october-2018-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=13787:business-tianjin-out-october-2018-edition&catid=2:tianjin-finance&Itemid=27If you look at the International School of Tianjin (IST) from the sky, you may notice something different. 380 solar panels lie soaking up the last of the summer sun in a brilliant attempt to reduce IST’s environmental footprint. Business Tianjin was lucky enough to interact with the Director of IST, Mr. Steve Moody, about how this bright idea came about and who the masterminds behind it were. You can be part of this Green Team story, which represents a unique opportunity to invest in the future of our children.

We were impressed not only at how the students themselves care enough about sustainability and the environment to initiate the Green Team Solar Panel Project, but also the encouragement provided by the board and staff members in allowing these students to voice their ideas. It truly is inspirational.

Having recently been appointed General Manager of All-legend Hotel Business Division, Tiens Group, Mr. Huang is on a mission to bring his extensive experience gained in both the West and in China to successfully undertake its re-launch. John Huang has shared with us his ambitious plans to bring one of the only resorts providing hot springs that was previously tucked away in Wuqing District in Tianjin, into limelight.

Individual Income Tax reform has attracted high level of attention from people and the extent of its impact is large. You can finally learn about this important reform in the section of Tax & Finance in collaboration with PwC.

President Trump’s policies are proving to be ineffective thus far. His tariffs failed to stem the growing Chinese surplus with the US. Producer price index and China’s trade surplus with the world also decreased. Growth abroad and in the domestic market is softening. Many sectors are slowing down to touch their lowest levels in many years, which may be a cause of worry. Economists believe that weakness in the Chinese economy could render it more vulnerable to the trade spat. Hopefully, measures by the government will turn things back in the right direction.

There are many other interesting articles this month, and I invite you to read them all after having checked our content page. We are sure you will find topics that will help you in your professional and personal life.

Visit www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

Tianjin Arcadia Court is one of the preferable places for expats to live in Tianjin. Its environment matches the needs of any person who would like to live in Tianjin temporarily or for the long term. We have a lot of friends living there and also in the nearby Shangri-La Hotel. Together with Riverview Place shopping mall, this locale is a perfect place to find anything you need to make your lovely family feel totally comfortable in the city.

We have visited Tianjin Arcadia Court and experienced the warmth and comfort of arriving via the lush private driveways of the apartments. They still have few big two to three bedroom units, with many layouts that are available to cater to different household needs. Embracing Tianjin’s cityscape and the city rhythm is an unprecedented enjoyment that ensues while living at the Tianjin Arcadia Court.

In this month’s Real Estate column we have published a recent research done by the JLL Tianjin Research team of retail malls in Tianjin. This year a few trends have started to emerge or solidify. The first piece of good news is that the air will start to clear, or at least construction dust is less likely to be coming from retail projects. The story about retail over the next five years won’t be about the new mall, but rather the best managed one that attracts shoppers regardless of location.

Micro-influencers are people with a deeply engaged niche audience between 1,000 and 10,000 followers, and produce highly accurate content. Nowadays, 92% of people do not trust traditional ads, as they clearly prefer word-of-mouth recommendations from friends and family. Check our Marketing section to get details and reasons as to why Business Tianjin Media Platform has a great Micro-Influencer network, and how it could help you in your promotion needs.

IIT reform has attracted high level of attention from people and also the extent of its impact is large. You can learn more about this important reform under the section Tax & Finance in collaboration with PwC.

There are many other interesting articles this month, and I invite you to read them all after having checked our content page. We are sure you will find topics that will help you in your professional and personal life.

Visit www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

]]>frontpageThu, 30 Aug 2018 07:41:13 +0000Business Tianjin OUT! August 2018 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=13631:business-tianjin-out-august-2018-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=13631:business-tianjin-out-august-2018-edition&catid=2:tianjin-finance&Itemid=27China’s economic performance indicators have been mixed in the recent months, but they show that the pressures are mounting on the economy. Despite trade war tensions and the pressures, China is likely to achieve commendable growth this year. This is due to astute regulations and economic policy. In the grand scheme of things, the trade war may prove to be a small blow to a rising dragon.

We’ve had the opportunity this month to interview UFH’s Chief Medical Officer, Dr. Douglas Stevens, who has kindly shared his personal experience in the healthcare industry in addition to giving us more insight into UFH’s revolutionary approach in quality and service-oriented healthcare programs.

UFH (United Family Healthcare) is a private international healthcare organization in China with clinics around major cities such as Beijing, Shanghai, Guangzhou, Wuxi, Tianjin, Qingdao, and Mongolia. Along with these establishments, the company also has 14 satellite clinics and medical centres. With its international-standard healthcare system, UFH offers premium personalized healthcare to interested individuals.

Ascott has celebrated on 20th of July the 20th Anniversary of its presence in China, and Alex Wang, Vice President, Project Management of Ascott China and Area General Manager of North China, has interacted with our editors to highlight their improving guests’ experiences and plans for the future. As one of the leading international serviced residence owner-operators, Ascott Tianjin has accumulated profound brand influence and guest base.

The 18th summit of SCO celebrated recently in Qingdao, concluded with spectacular results for the member states and we analyze this important event in our feature story. The Shanghai Cooperation Organization (SCO), also known as the Shanghai Pact, is a security, political and economic organization, and one of the most powerful in the world in terms of military and economic power, geographical coverage, population and political influence.

There are many other interesting articles this month, and I invite you to read them all after having checked our content page. We are sure you will find topics that will help you in your professional and personal life during your stay in Tianjin.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

58 BOOK REVIEW: Dealing with China: An Insider Unmasks the New Economic Superpower

59 LAST WORD: Why Chinese Firewater Beats Tequila!

]]>frontpageWed, 01 Aug 2018 03:18:08 +0000Business Tianjin OUT! July 2018 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=13550:business-tianjin-out-july-2018-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=13550:business-tianjin-out-july-2018-edition&catid=2:tianjin-finance&Itemid=27Tianjin has a very active and trendy hospitality industry, offering a large number of rooms in town to host multiple events, conferences, activities and also meet the growing tourism needs of the municipality.

The city is moving from a pure industry sector engine to a more focused service sector based on tourism, hospitality, finance and organization of events. Of course, this transition will be faster if the possibility of organizing public events is more flexible and less controlled by authorities, but as you know very well, in China it is safety first.

One good example of increasing number of variety offers in the hospitality sector is the new opening of Fraser Place Binhai, Tianjin. We have had the opportunity to visit this new serviced apartment, and to interview their global CEO, Mr. Choe Peng Sum, and the General Manager of Fraser Place Tianjin, Ms. Theresa Liu.

Choe charted the impressive growth of the company from its inception in 1996 with two properties and 400 keys in Singapore, to currently owning and managing 140 properties across 77 cities globally with a total of over 22,500 keys.

We also chat this month with the CTO of a very interesting business model in China, combining the technology leadership of Rockwell Collins, and the local market and influencing giant, Haite group that create Accel Flight Simulation. The intention is to provide the world with best simulators at a more affordable price and Asian approach to customers, under the advantages of being located in the high-tech corridor that is the Tianjin Economic Airport Area. You will find very interesting the interview with Eduardo Bernal Garcia, a talented person that successfully adapts his life to live in China with his family.

There are many other interesting articles this month, and I invite you to read after having checked our content page. We are sure you will find topics that will help you in your professional and personal life during your stay in Tianjin.

48 MARKETING: Shape of Content Marketing By 202050 HR: Make Your Company Thrive!52 NEW APPOINTMENTS53 PAST EVENTS54 CHAMBER REPORTS56 LISTINGS62 ART & LEISURE: Is Arranged Marriage Still a Family Tradition?64 BOOK REVIEW: Manipulating Globalization:The Influence of Bureaucrats on Business65 LAST WORD:The Joy and the Agony

This month we have on the cover a top executive who is originally from Tianjin. How to make each guest feel at home is his main target. He is always thinking about how to meet customer requirements, how to leave them feeling satisfied, and how to go above and beyond their expectations. Hugo Zhang, General Manager of Renaissance Tianjin Lakeview Hotel & The Lakeview, Tianjin-Marriott Executive Apartments, derives great satisfaction from the recognition of each guest and this realization of self-worth has led him to the conclusion that this is the cause he would like to work for. He combines his 25 years experience in the hotel industry with fresh ideas to truly make his guests feel at home.

We also have a conversation with Paul Gills, ex-executive of Price Waterhouse Coopers who has been teaching at Peking University for ten years now. Most of his classes today are for MBA students from China and all over the world. He got his PhD with a thesis on the development of the accounting profession in China and the contribution of the Big Four. He won an award from EMFD and EQUIS for the best doctoral thesis in that year.

The life story of Warren Buffett, the chairman and CEO of Berkshire Hathaway, one of the best financial advisors of all times and the richest person in the world is what we have chosen for our Inspirational column. As he said, it’s not neccessary to do extraordinary things to achieve extraordinary results. You can read some of the best business strategies which you can steal from him and apply to your own entrepreneurial goals and desires.

You also could find a review of the book written by our friend Dr. Ross Colquhoun and published by Tianjin University Press titled "Dementia and You: Care and Management". It is based on his original English book "Dementia and You: Care, Protection and Reducing Risk" that has been researched and rewritten for Chinese readers over the past 3 years.

There are many others interesting articles this month, and I invite you to read after having checked our content page. We are sure you will find topics that will help you in your professional and personal life during your stay in Tianjin.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

]]>frontpageFri, 01 Jun 2018 04:48:58 +0000Business Tianjin OUT! April 2018 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=13347:business-tianjin-out-april-2018-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=13347:business-tianjin-out-april-2018-edition&catid=2:tianjin-finance&Itemid=27International Women’s Day was celebrated on 8th March, but we think it should be observed each day of the year. So many organizations join hands to highlight outstanding individuals who have contributed to the advancement of women’s rights and take initiatives towards further advancement of bridging the gender parity.

To commemorate this special day, Business Tianjin and Tianjin Plus Magazines in tandem with Shangri-La Hotel, Tianjin, invited cooperate leaders to celebrate this special day at Café Yun, Shangri-La Hotel, Tianjin. We dedicate this issue’s Cover Story to every single woman and hopefully it serve to recognize their important role in society. Our congratulations to all women simply for being a woman!

We interacted with Jason Will, a professional that has been in the moving industry for 26 years, and counting. From starting in a business development role in Australia to now managing the Asian Tigers business in China, it has been a long and interesting journey for him, and as he said, he is still learning new things! The moving industry has evolved his entire life, and is continuing to evolve still.

We analyze in our feature story how China-US relationship affects global economic affairs. These two biggest economies in the world are considered as being economic gravity centres, whose economic activities affect regional and global economies alike. Given their size and global reach, the relationship between the two can fall somewhere on a spectrum between high cooperation and intense competition.

Economic projections for the month remain very positive for the rest of this year for China, based on the numbers from the first two months. Check our economy section and see why the outlook remains positive even while economic activity has been slowing down recently.

You can read other interesting stories, such 10 principles of social media, an in depth research report of the boom of theme parks in China and why you should become a people’s company.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

66 ART & LEISURE: The richest and most famous rebel artist in the world: Banksy

68 BOOK REVIEW: China and Africa

69 LAST WORD: Western Brands and Products Flopping in China

]]>frontpageMon, 02 Apr 2018 09:04:46 +0000Business Tianjin OUT! March 2018 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=13278:business-tianjin-out-march-2018-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=13278:business-tianjin-out-march-2018-edition&catid=2:tianjin-finance&Itemid=27
We bring you a lot of interesting articles and stories in this issue. February was the shortest month of the year, and the Chinese New Year holidays made us feel that March came much earlier from a business perspective.

Australian Jason Stinson, General Manager of Shangri-La Hotel Tianjin, and his team have worked hard during these past months to apply a culinary innovation as part of a hotel-wide invigoration drive from the month of March. Shangri-La Hotel Tianjin plans to relaunch two signature restaurants after refreshing their menus and gourmet concepts, namely Café Yun and Shang Palace.

We interacted with Jason at the splendid view of the Horizon Club top floor for our cover story. Passionate about Tianjin after having been in Shanghai for his previous assignment, Jason knows very well the incredible history and many facets of Tianjin, a world-class city as he describes it, even though he has been only few months here. His principle is Doing the best to be the best, and his greatest satisfaction is to see his colleagues succeed in their careers, and these make him an extraordinary person.

Our economy update report shows that China continues its move from a manufacturing based economy towards a more consumption based economy driven by domestic demand. President Xi Jinping wants the country to play a bigger role in innovation and pushing forward technologies.

Don’t miss the Feature Story to know the reason why Xiong'an New Area will be crucial for the millennium to come. The Xiong’an New Area is being built as a model of how to manage population expansion effectively, as well as serve to showcase how human development, resource utilization and environment can co-exist in perfect harmony.

Challenges that women face in modern day China are such that many other places around the world may not understand fully. Read our Art & Leisure column that is dedicated to all women working in China to commemorate 8th of March, Women’s Day. Conflicts faced by women between their careers and family are paramount.

You can read other interesting stories, such as how to design email campaigns as the most cost-effective and influential way of boosting your revenues, an in depth research report of the important China-Pakistan Economic Corridor, and why sleep deprivation is extremely dangerous to not just employers but employees as well.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

We interact in this issue with a person who has enormous experience in China’s transformation into a great nation. From his time as the World Bank’s Country Director for China from 1997 to 2004, and for Russia and other Former Soviet Union Republics of Central Asia from 1992 to 1997, Yukon Huang is a genuine expert on developing economies and issues in their transition to more advanced technologies. He is now a senior fellow at the Carnegie Endowment for International Peace.

The rapid development of China’s finance sectors can be traced back to a few decades ago, when a series of significant reforms began in 1978 and strengthened the position of commercial banks in the country. In our feature story, we try to predict the future of one of the fastest growing finance sectors in the world.

A recent survey has shown that more than 25% of employees in a working place are lazy. Our HR column discusses this topic in context of many organizations, but it is a reality that HR departments should face and take measures to solve. Knowing the reasons is the first step.

Our tech column shows how architects from all over the world are developing new ways for faster building of big constructions, even entire houses and buildings. A major breakthrough in this area was made by Chinese architects who introduced the first 3D printer to construct ten houses in one day. They used a 3D printer that prints in color and employs more than one material.

Most people have never heard about Chris Gardner. However, you probably watched his life story on the screen, The Pursuit of Happyness. Learn in our ‘In Depth’ section about his life experience and how failures should be celebrated as forms of potential success. Never give up and live life by following your dreams without hesitation and do not feel afraid to fail along the way.

Release of a tax deferral treatment policy by the Chinese government will significantly impact business development and strategic layout of multinational companies that are planning to expand their investment in China. It also demonstrates the commitment of the Chinese government to further encourage foreign investors to continue expanding their investment in China by improving competitiveness in attracting foreign capital. It is an end-of-year gift that many foreign investors are celebrating.

Also read our marketing section to understand better the importance of customer loyalty and customer satisfaction. On the other hand, get some ideas for a modern apartment, loft or studios in the architecture column.

Visit our website www.businesstianjin.com and follow us in our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

]]>frontpageThu, 01 Feb 2018 03:38:50 +0000Business Tianjin OUT! January 2018 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=13157:business-tianjin-out-january-2018-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=13157:business-tianjin-out-january-2018-edition&catid=2:tianjin-finance&Itemid=27 His daughter was born in Shanghai, and he spent four years living in the city. When he left Shanghai he said that he would love to return to China one day. As it is said, be careful what you wish for because you just might get it! We interacted with long-time Hyatt hotelier, Mariano Silvestri, who recently moved to Tianjin to become General Manager of Hyatt Regency Tianjin East, located in Hedong District. He is very happy to be back in China, where he feels at home. His hospitality career is honed from fifteen years of working up the ladder from the bottom for Hyatt’s flagship hotels around the world.

China's economic growth and increasing value of exports has driven the demand for resources to record levels, but with the economy slowing down and the global fall of commodity prices in recent years, the country's demand for various resources could become unstable. You can check our feature story to learn more about this important topic.

Many things can't be taught in a school, university, academy... We are the architects of our lives, and all the bricks are actually small habits. Becoming successful and fulfilling your dream is a big thing. We learn through our communication with people and our communication with that voice in our heads that always pushes us to go forward. Learn more things like this to be successful like one of the greatest minds ever.

Another interesting article this month is the e-biz column. You could discover some viable ways to convert a large proportion of your leads into sales.

Read our marketing section to have a quick peek over how to prepare a fantastic speech, one that’s equally fascinating yet formal, and delivers precise outcomes. On the other hand, sustainability and energy efficiency is one of the most important recent topics and you can get in the architecture column some tips how to start at home.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

]]>frontpageFri, 29 Dec 2017 10:30:42 +0000Business Tianjin OUT! December 2017 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=13077:business-tianjin-out-december-2017-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=13077:business-tianjin-out-december-2017-edition&catid=2:tianjin-finance&Itemid=27​In the last month of the year, we have chosen a person who is very influential in the business community in China. Eric L. Schmidt is the founder of China Entrepreneurs, a network that counts more than 20,000 business professionals and has incubated multiple tech start-ups. Eric is also the Co-Founder and CEO of EventBank, a cloud-based engagement management software company that is focused on delivering cloud solutions that transform the way professional communities enable and enrich relationships. We hope that you will enjoy reading his story as much as we did while putting it together.

When family marks your future and also gives strong sense to your profession, it is a nice phenomenon. You enjoy your life because you work as you want. This is the case of Kellin Zhang. When her father told her once that she should work in a beautiful environment, she was sure she will build her career in the hospitality industry. Now she is the Director of Sales and Marketing of one of the landmark 5-star hotels of the town, and well known top executive in the region. We feel ‘Just Like A Family’ talking with her.

The economic partnership between China and Russia has seen a significant uptick over the last three years. We have dedicated our Feature Story to the economic partnerships of China with Russia, and its enormous influence that all the projects are developing together will have in the world.

Experts remain optimistic about China’s economic outlook as the government policy priority will focus on pushing reform and reducing economic leverage. The Chinese government has set the whole-year economic growth target at around 6.5% and the country already saw robust growth of 6.9% in the first three quarters. You can read all the details in our economy column.

And a special mention about the Last Words column. A very exciting reading of how a real Chinese adventure can be had by dining in someone’s home. What could be a more exciting intercultural experience in China than being invited to dine in an authentic Chinese home? Receiving an invitation to the home of a friend or colleague is on par with finding one of Willy Wonka’s golden tickets. In China, inviting people out to dinner in a restaurant is commonplace and it is regarded as an honour to treat others in this way. Inviting people into your home is rare for many reasons that you may easily understand.

We publish again in this issue a great variety of interesting articles. We hope you enjoy them as much as we did by writing them.

We take this opportunity to wish you a healthy ending of the year. Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

]]>frontpageFri, 01 Dec 2017 09:48:54 +0000Business Tianjin OUT! November 2017 Editionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=12967:business-tianjin-out-november-2017-edition&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=12967:business-tianjin-out-november-2017-edition&catid=2:tianjin-finance&Itemid=27In this issue our editor interacted with a German national gifted with an exceptional in-depth understanding of Chinese culture. Dario Pithard is the General Manager of The St. Regis Tianjin and his valuable insights provide an accurate view from the trenches. He is zealous and driven, and would not settle for an ordinary career path.

China’s economy this year has shown signs of stabilizing and growing more strong, and the momentum may continue in the second half. In September, China's exports were up 8.1% from a year ago in dollar terms, while imports were up 18.7%. You can read about it in detail under our Economy section.

Hospitality industry greatly relies on customer’s free time and surplus income. Read our marketing section to gain a better understanding how public relations play a highly effective role as a marketing technique.

Emergence of alternatives to banks, or alternative finance, backed by technological development in the last decade, is about to alter the way we look at financial services. In many areas, banks are losing their monopolistic position as cheaper alternatives provided by newcomers are claiming a growing market share. Learn more in our In Depth column about The Democratization of Finance on a global scale.

China has emerged as a key player in the process of economical and structural development and regional integration of Latin America. We have dedicated our Feature Story to the economic partnerships of China with the countries of Latin American subcontinent.

The Millennial Age paved the way for booming e-commerce businesses. In just a few clicks, everything can be bought online! What are the e-Commerce trends to watch for in 2018? Let’s take a guess on how China will look like in 2018 in our new eBiz section.

We publish again in this issue a great variety of interesting articles such the Human Brain Connected to Computer under the Tech column and the top 5 HR software packages in China.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for a complete list of articles and information.

]]>frontpageWed, 01 Nov 2017 08:10:51 +0000Business Tianjin - 2017 October Edition Out!http://businesstianjin.com/index.php?option=com_content&view=article&id=12895:business-tianjin-2017-october-edition-out&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=12895:business-tianjin-2017-october-edition-out&catid=2:tianjin-finance&Itemid=27Education of children is the first thing that foreign families are looking for when they decide to relocate out of their home country. Tianjin is well sourced with International Schools and Wellington College International Tianjin is one of the most prestigious institutions. Julian Jeffrey has been appointed recently as the new Master, and we sat down with him to discuss the ever-changing landscape of education and to talk about some of the unique features Wellington is offering in town. Wellington provides high quality education that makes Tianjin rank at the top of the list when parents are looking for international education in China.

In this issue our editor spoke to William Bao Bean to discuss the trends, demands and pleasures of the start-up scene. He is one of the best known ex-pat venture capitalists and start-up mentors in China. William gained a strong reputation as a research analyst before he moved into venture capital. Born in the US and of Chinese and Scottish ancestry, he is the General Partner at SOSV with its Chinaccelerator and MOX start-up accelerators and is deeply knowledgeable about the intricacies and hazards typical of Chinese business.

Lionel Messi has participated in advertising campaigns to promote WeChat internationally, but Tencent was unable to reach minimum acceptable quota of the messaging apps global cake. Wechat has occupied every touch point of an average Chinese person’s mundane life, but there are factors that are holding back WeChat’s overseas expansion plans. We dig a little deeper in order to get some insights on market-specific reasons that are disrupting the international success of Chinese brands like WeChat.

The surge of Bitcoin in price since the beginning of 2017 made headlines and attracted masses of people who decided to join the cryptocurrency hysteria. Invented in 2009 as the first currency not backed by any government and central bank, it is valued exclusively by the forces of supply and demand. We introduce you through ‘In Depth’ this month to a few cryptocurrencies that might be the next Bitcoin: Bitcoin Cash, Ethereum, Ripple and ZCash.

We publish again in this issue a great variety of interesting articles such the future of performance management under the HR column, and a tech piece with suggestions to fly through the sky when you get stuck in traffic.

Visit our website www.businesstianjin.com and follow us in our official Wechat account (ID: business_tianjin) for getting a complete list of articles and information.

]]>frontpageSat, 30 Sep 2017 03:56:59 +0000Business Tianjin – 2017 September Edition Out!http://businesstianjin.com/index.php?option=com_content&view=article&id=12764:business-tianjin-2017-september-edition-out&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=12764:business-tianjin-2017-september-edition-out&catid=2:tianjin-finance&Itemid=27One of the main concerns for foreigners in China is air quality. Recently things are getting better and the reason comes from a large variety of actions. We found some weird measures being taken, such as covering of green plastic the empty land around the city, allowing all sharing bikes scamp along the pedestrian walkways without a certain order…but it is plausible to see that the result is positive. Hopefully it will continue and we can see a much greener Tianjin and people get more concerned about the environment where we are likely to spend the rest of our lives.

Business Tianjin spoke to Jessica Lam about the trials and rewards of being a business founder and the necessity of diversity. She is the co-founder of Kaiterra, one of Beijing’s most exciting foreign-founded startups, which manufactures and sells a variety of air purification products for being used at home. She is a Canadian who has been named in the Forbes 30 Under-30 list of the brightest young entrepreneurs while her company’s star product, the Laser Egg, has been selling like the proverbial hotcakes.

In our dialogue column, Shaun Rein spoke to Business Tianjin about his starting out in business, his experiences in the city and what it takes to fend off Deloitte and McKinsey. He is best known as the author of ‘The End of Cheap China’ and ‘The End of Copycat China’, two prescient books examining the most recent trends in Chinese economy. He’s also the founder and MD of China Market Research Group, a high-end consultancy firm. With these distinguished feathers in his cap, he’s a man plugged into the risks and rewards of the Chinese business sector.

The addiction to online shopping and numerous mobile apps made it possible for consumers to shift from brick-and-mortar shopping to convenient door-to-door delivery provided by online stores. We summarize in our Feature Story the Local Way of e-Commerce one more time because it is changing our lives dramatically.

We publish a great variety of interesting articles such as China-Africa relationship, modern technology at your home from an architect’s perspective, co-branding or not, new HR technology trends, Telehealth and our always amazing Last Words final piece.

Visit our website www.businesstianjin.com and follow us in our official Wechat account (ID: business_tianjin) for getting a complete list of articles and information.

]]>frontpageThu, 31 Aug 2017 03:28:09 +0000Business Tianjin - 2017 August Edition Out!http://businesstianjin.com/index.php?option=com_content&view=article&id=12640:business-tianjin-2017-august-edition-out&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=12640:business-tianjin-2017-august-edition-out&catid=2:tianjin-finance&Itemid=27Few foreigners working in Tianjin have experienced the transformation that China has undergone over the past two decades. Allan Wong came to China 23 years ago to start his career in the financial sector. He tried not to limit his abilities as he likes to delve into different facades that are beyond his job description. As a result he has overlooked land acquisition, projects construction and management of sites. He is the Pan Pacific Tianjin Hotel General Manager and a leader with all-round experience. Allan introduces to us his hotel, located beside the river bank and very close to the Ancient Culture Street.

The most important sports event in China at national level is the National Games of China that is held every four years. Tianjin is hosting the competition this year from August 27th to September 8th, and all business will be affected. The local government has taken the opportunity as well to transform the different aspects of the city.

The economy, overall, is seemingly healthy and is doing better than the downgraded expectations for the month. Chinese economy in most aspects during July either reached or surpassed expectations. China's GDP grew at a faster-than-expected 6.9% year-on-year in the first two quarters, well above the government's target for the year of 6.5%.

We dedicate the Feature Story of this issue to the Regional Comprehensive Economic Partnership (RCEP), a regional free-trade agreement (FTA) mostly between Asian countries, including Australia and New Zealand. As Donald Trump withdrew the United States from the Trans-Pacific Partnership (TPP) pact after eight years of negotiations rounds, its future is now unknown. Most analysts believe that RCEP will become an alternative to TPP and the economic centre-piece of 21st century. When the RCEP negotiations finish, it will become the world's largest free-trade zone, involving a population of 3.4 billion people with a total Gross Domestic Product of $21.4 trillion, about 30 percent of the world's GDP.

This edition comes with many other interesting articles. You can learn how to identify a good location for your home or office using Ancient Feng Shui philosophy and the effects of China's New Cyber Security Law that took effect on June 1st, 2017.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for more on latest trends and information.

]]>frontpageTue, 01 Aug 2017 03:47:05 +0000Business Tianjin – 2017 July Edition Out!http://businesstianjin.com/index.php?option=com_content&view=article&id=12528:business-tianjin--2017-july-edition-out&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=12528:business-tianjin--2017-july-edition-out&catid=2:tianjin-finance&Itemid=27TEDA is located in the core area of Binhai New Area of Tianjin and happens to be a leading investment spot in Asia-Pacific and therefore in the world. Together with Yujiapu, a peninsula shaped like a whale, just 10-minutes drive away, these are actually the most dynamic areas of Tianjin.

We had the privilege this month to talk with Javier Gimeno, General Manager of Renaissance Tianjin TEDA Convention Center Hotel, the first and most emblematic Five Star Hotel in TEDA which was recently upgraded by adding the Marriott Executive Apartments TEDA - Tianjin. We asked him what made this hotel a unique option for business travelers in the heart of TEDA.

Economic analysts are pointing to a full-year worth of growth to be higher than what the government expects at its expectation of 6.5% gross domestic product growth. This is largely a result of an increase in global trade and global economic activity which will also be higher than what was previously expected during the beginning of the year when the 6.5% growth expectation was announced.

Our Feature Story is dedicated to the U.S.-China Strategic and Economic Dialogue (SED), a high-level bilateral dialogue between the United States and China, with the aim of discussing a wide range of regional and global issues of immediate and long-term strategic and economic interests. At the 2016 S&ED meeting, Chinese President Xi Jinping urged the need for both countries to establish "fundamental, strategic and mutual trust." "There is no reason to fear having differences, the key is not to adopt a confrontational attitude towards any differences," Xi said.

Our IPR section provide some hints as in how to protect your property rights in the tourism industry and you can also learn how to become a marketing genius in another of our recommended articles from our editorial team. And don't miss our HR column to know of other ways to improve productivity of your workforce.

Check also our column about technology to see what the future has in store for us as regards autonomous cars and how our expert in management explains the way to identify 'A' players in your organization.

Visit our website www.businesstianjin.com and follow us in our official Wechat account (ID: business_tianjin) for more on latest trends and information.

]]>frontpageMon, 03 Jul 2017 09:03:31 +0000Business Tianjin – 2017 June Edition Out!http://businesstianjin.com/index.php?option=com_content&view=article&id=12410:business-tianjin--2017-june-edition-out&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=12410:business-tianjin--2017-june-edition-out&catid=2:tianjin-finance&Itemid=27We have had the privilege this month to talk with Rui Ma, a Venture Partner who is helping young entrepreneurs reach Silicon Valley and transform a simple idea into a viable project. She likes to found teams that are endlessly curious, low-ego, truth-driven and action-oriented and generally do well and work well together. Students cooperating with her receive hands-on experience in investing that no class can ever teach, plus they can get an extra source of capital.

As our economy section has described, April witnessed a trade growth slowdown but there is no doubt that China trade environment continues to look strong.

We continue with the analysis of partnerships of China with other regions of the world and this month our Feature Story goes to European Union and China Partnership and Cooperation Agreement. It is very interesting to see that only Germany and Finland had a surplus in trading goods with China in 2015 and the rest of EU member states recorded a trade deficit.

Our column 'In Depth' this month is also very interesting wherein we highlight that the highly indebted corporate sector could become a major problem in China. With a total debt of almost 300% of GDP, a derail of state-owned banks could trigger a systematic crisis. Debt linkages between the government and real sector are especially of increasing concern. Although the overall debt-to-GDP ratio is not the highest in the world, the special relationship between state-owned companies and banks could ultimately create a deep crisis. The non-financial corporate sector is of special concern with an estimated debt-to-GDP ratio of over 150%.

DonÂ´t miss our other remarkable articles that will enable you to discover how small satellites are making a great contribution to the world and how important are images in your Marketing Strategy.

Sustainability and ecology are not empty words. There are some things you can do by yourself in order to enhance your interior design with a modern green lifestyle vibe while also significantly improving the atmosphere of your home. Our new section 'Architecture' comes with some ideas to create vertical green gardens to make efficient use of your apartment.

Visit our website www.businesstianjin.com and follow us in our official Wechat account (ID: business_tianjin) for more on latest trends and information.

]]>frontpageThu, 01 Jun 2017 07:02:50 +0000Business Tianjin – 2017 May Edition Out!http://businesstianjin.com/index.php?option=com_content&view=article&id=12243:business-tianjin-2017-may-edition-out&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=12243:business-tianjin-2017-may-edition-out&catid=2:tianjin-finance&Itemid=27Our cover story this month wishes to enable you to feel at home with Jens Corder, General Manager of Shangri-La Hotel, Tianjin. Interacting with Jens was a great pleasure, not only for sharing with us his long experience in the hospitality industry worldwide, especially in China, but also for the unique river view that we enjoyed from the Horizon Club located at the top floor of the hotel. We really understood the meaning when he mentioned that "customer's level of comfort is the highest priority".

Richard Robinson was one of the first foreigners to come to China to work in the Internet sector and we have had the great opportunity to have a dialogue with him and talk about entrepreneurship and startups. All big startups that he invested into failed. But, as he says, there is no failure - only feedback.

The feature story is based on introducing China's Strategic Economic Partnerships. As China rises, strategic economic partnerships have become a prominent instrument for establishing a prosperous environment for its growing economy. Don't miss this overview of the most important partnerships between China and other regions.

If you want to do the right thing and not only do things right, you should read the HR column about the importance of leadership at workplace.

Our analyst explains in the economy section that China's macro-economic picture appeared better than expected for the month of March with trade data coming in slightly higher in conjunction with President Trump softening his tone against the world's second largest economy.

An introduction of the best wireless routers of the market and cross-media marketing as an integrated strategy of communication using multiple platforms are two articles that I would also like to highlight this month.

We suggest our readers to visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for more on latest trends and information.

As the Cover Story, this month's issue features a conversation with Maurice Cook, General Manager of Radisson Tianjin, who is back in the city to lead the transformation of this fantastic property and introduce it back to the Tianjin landscape as a part of the Radisson brand.

With political and economic uncertainty continuing unabated, our Feature Story is focus on the future of RMB and under Real Estate we discuss how the advent of China's National Games in Tianjin will have a positive impact on the overall development of the city.

An interesting highlight of this issue is the Dialogue section that features our interaction with Dr. Lu Gang, founder and chief editor of TechNode. From his past experiences to the start-up scenario in China, Dr. Gang provides candid opinions on various aspects and we hope that his insight would be valuable for other aspiring start-ups in the country.

Work is indeed a part of life but how to prevent life from being totally consumed with work is what we have discussed in our HR section. In our Marketing section we have attempted to provide you with an overview as to how mobile marketing can benefit you along with tips.

For more on Legal, Investment and Commercial fronts, visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for more information.

05 BIZ BRIEFS09 NUMBERS10 ECONOMY: Signs of A Healthy Economy12 FEATURE STORY: The Future of RMB14 COVER STORY: Put Your People First!20 DIALOGUE: Lu Gang: Founder & Chief Editor of TechNode24 INVESTMENT: Investing into the abyss of uncertainty and political risk26 BUSINESS NEWS27 REAl ESTATE: China's National Games are coming to Tianjin30 IPR: How to Identify and Deal with IP Scams in China: Threat from Third Party Scam34 MARKETING: What do customers want from mobile marketing?36 LEGAL ASSISTANCE: PBOC Further Loosened the Cross-border Financing Rules39 MANAGEMENT: How To Turn Your Local Business Into An International Business Platform42 HR: Why is Work-Life Balance Essential?44 TAX & FINANCE: China Unveils 20 Measures to Further Open up the Economy to Foreign Investment48 TECH: Virtual Reality in Everyday Life50 PAST EVENTS51 CHAMBER REPORTS54 LISTINGS59 TRANSPORTATION60 ART & LEISURE: Opening The Door To The "Other" World62 BOOK REVIEW63 LAST WORD: Expat Media64 BIZ FUN

Bearing in mind the uncertainty of this period, our Feature Story discusses the economic outlook of 2017 through a variety of factors like US President Donald Trump, rejection of TPP and China's GDP figures.

Positivism is in the air as the official figures released by the Chinese Government on the economy are indicative of stabilization. Having been the subject of much skepticism in the recent past, especially by foreign agencies, the latest economic data is regarded as being significant as it is a step forward in the objective of 'soft landing'. Courtesy of rise in GDP and increase in exports, it is interesting to note that the Chinese economy appears relatively more stable as compared to other countries in the face of global slow-down.

Exercising cautious optimism is what our investment experts would advise you with regard to the stake in equity market given the diverse factors at play ranging from new American President to the stable economy back home. Although most stocks have exhibited good performance, sticking to A-shares and old economy stocks is strongly recommended.

Our dialogue section features an interaction with Mr. Liang Thow Ming, Chief Sales and Marketing Officer, CHEC, wherein he goes on to discuss the initiative of reviving the ancient maritime silk route to meet the trade requirements in this contemporary era. Readers with commercial interests must read our Legal and IPR sections not to mention Marketing wherein you can try out tips provided and let us know if they enabled you to retain your old customers or expand your customer base.

Do check our Book Review that discusses Tom Miller's latest compilation titled 'China's Asia Dream' and Last Word wherein we make an effort to explore what people miss most about China.

Visit our website www.businesstianjin.com and follow us on our official Wechat account (ID: business_tianjin) for more information.

]]>frontpageTue, 28 Feb 2017 10:22:25 +00002017 February Edition Out!http://businesstianjin.com/index.php?option=com_content&view=article&id=11864:2017-february-edition-out&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=11864:2017-february-edition-out&catid=2:tianjin-finance&Itemid=27Welcome to this edition of Business Tianjin with many updates on commercial and economics news, interviews and reports.

A cause of concern over the last few months has been the state of Chinese economy and in this issue we provide you with the most recent figures and trends in form of a monthly update. 'Soft landing' of the Chinese economy continues to take shape with emphasis being to shift away from exports. This is indicative of a lower GDP of 6.5% and a slightly fluctuating index of 51.9 which is a tad higher than expected, thus presenting a mixed outlook. Another seminal factor is President Trump finally assuming office and it remains to be seen how this will impact China's economic climate over the coming months. In the absence of any concrete information, Chinese markets are likely to go through a phase of uncertainty.

Given that US-China trade relations seem to be everyone's mind, we decided to have a further discussion in form of our Cover Story wherein we interacted with the Chairman of American Chambers, Mr. William Zarit to know his perspective on the situation.

If there is a silver lining in a black cloud, it is that of Chinese real estate wherein the latest trend among shopping malls is indicative of improvising as per the changing tastes and preferences of consumers. Rather than stick to the conventional model and lose business, shopping malls are beginning to adopt new and innovative models that would not just draw customers but also ensure long-term survival.

As McDonalds' sells its Chinese presence and global tech leader Apple Inc continues to suffer declining sales, an important breakthrough in the ball-point industry assures of progress being made towards self-reliance. Deterioration in the US-China trade relations continues to cause concern and has prompted the Chinese government to take supportive measures as a form of damage control.

More on the economic front can be found under our Book Review section which discusses China's economic culture, chamber reports and management and marketing sections. We round up this February issue with perspectives on how to handle bad faith in trademark registration, the impact of artificial intelligence on human resources and expats' interpretation of life in China.

Don't forget to visit our website www.businesstianjin.com and follow us in our official Wechat account (ID: business_tianjin) for more information.

]]>frontpageWed, 08 Feb 2017 01:36:36 +00002017 January Edition Out!http://businesstianjin.com/index.php?option=com_content&view=article&id=11777:2017-january-edition-out&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=11777:2017-january-edition-out&catid=2:tianjin-finance&Itemid=272017 is finally here and in January we would like to wish our readers best wishes.

Chinese Economy has maintained a significantly consistent forecast with GDP continuing to hover around 6.7 percent. Experts see the continuation of rising debt, lower industrial output, continued loss of private investment and overleveraging of state owned enterprises (SOEs).

Many Chinese companies that had invested domestically have been taking their money out of the Chinese market for almost a year, and these figures continued in the past month as capital flight remained an issue.

Surely you must have heard of Polo but have you heard of it in context of these contemporary times? Our Cover Story features an interview with Domenico Palumbo, General Manager of Tianjin Goldin Metropolitan Polo Club, wherein he talks about the meaning of exclusivity of this sport and its ability to forge friendships with cultures and nations. Readers can discover his talent towards managing a hotel for Chinese Elite.

The most remarkable annual event of Tianjin Goldin Metropolitan Polo Club is the Snow Polo World Cup 2017, the world's largest snow polo tournament that is going to be held for the sixth consecutive year, between 17th and 22nd of January 2017. It is a pity that it is by invitation only, but you can send us an email and we will manage to get an entrance ticket.

Our Feature Story summarizes our conversation with many of the most important business leaders of Tianjin in 2016, a city that has witnessed a boom in the hospitality industry and real estate development that has changed the shape of the city's skyline. We extend our thanks to all of them for talking with us willingly and offering their strong support.

In this first edition of 2017 book-worms can immerse themselves in the latest release 'Lotus' authored by Lijia Zhang and tech geeks can solve their dilemma as to whether smartwatches will actually replace smartphones.

You can keep abreast of the latest trends in human resources that are expected to emerge in 2017 so that you are better prepared to deal with your employees, workplace atmosphere and so on. Also read our financial pages to gauge your personal standing where taxes are concerned and about expiration of land use rights under real estate section.

Finally, donÃÂ´t miss our biz brief for keeping yourself informed about all recent business news and an article about the artistic aspect of Chinese New Year.

We round up this issue of Business Tianjin by wishing you all the luck and Happy New Year!

Don't forget to visit our website www.businesstianjin.com and follow us in our official Wechat account (ID: business_tianjin) for more information.

05 BIZ BRIEFS09 NUMBERS10 ECONOMY: Monthly Economic Update12 FEATURE STORY: Lessons of 2016 from Tianjin's Top Business Leaders16 COVER STORY: Leading the charge for The Sport of Kings and Hospitality for the Elite22 DIALOGUE: Talking with Leo Liu about Operations Optimization26 INVESTMENT: High Risk and High Reward, 3 ETFs to Cash in on China's Next Growth Boom28 INVESTMENT NEWS29 REAL ESTATE: Expiring land use rights, What can we expect?32 IPR: Geographic Indications in China, Champagne or Sparkling Wine?34 MARKETING: Is CSR becoming increasingly important in marketing?36 LEGAL ASSISTANCE: The New Era on Administration of Foreign-Invested Enterprises (Part II)38 HR: Emerging HR trends of 201740 TAX & FINANCE: SAT and SAFE refine the interim and post administration mechanism by establishing information sharing system42 TECH: Revolution of the smartwatches: An unsuccessful attempt or a smartphone 'killer'?44 MANAGEMENT: Entrepreneurship accelerator program and its advantages for Chinese startups 48 PAST EVENTS 49 CHAMBER REPORTS52 LISTINGS57 TRANSPORTATION58 ART & LEISURE60 BOOK REVIEW61 LAST WORD62 BIZ FUN

]]>frontpageTue, 03 Jan 2017 07:51:29 +0000Weekend Tianjin Package @ Shangri-La Hotel, Tianjinhttp://businesstianjin.com/index.php?option=com_content&view=article&id=11519:weekend-tianjin-package-shangri-la-hotel-tianjin&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=11519:weekend-tianjin-package-shangri-la-hotel-tianjin&catid=2:tianjin-finance&Itemid=27Shangri-La Hotel, Tianjin, located on the bank of the mighty Haihe River, affords guests magnificent river views and easy access to the rivers boardwalk, where you may take in the cityÃ¢s renowned architecture, from the British cantonment through to the Italian Style Town and ancient streets. Whether you are walking , riding on a hotel bicycle or taking a river cruise from the nearby pier, the city of Tianjin is a sight to see. Direct access from the hotel to the Riverview Place Shopping Mall is an added convenience throughout your stay.

Weekend Tianjin PackageBook to stay with us from 09 October to 31 December 2016 and you could earn a host of exclusive offers, including:

- One-night stay in a Deluxe Riverview Room - Daily buffet breakfast at Caf Yun- WIFI access in the hotel, on-site car park space- Access to Health Club facilities including indoor temperature-controlled infinity swimming pool and gym area- Get the second night at 30% off

Prices are starting from ￥888+ per night for one person and ￥988+ per night for two people Reservation

* Room rates above are in RMB and are subject to 10% service charge and prevailing government taxes and value-added tax payable on the prices together with the service charge. * Offer is subject to availability.* This offer is not valid in conjunction with other promotions.* Terms and conditions apply.

]]>frontpageMon, 07 Nov 2016 08:02:55 +0000Metropolitan Intervarsity Polo 2016 - The London Challengehttp://businesstianjin.com/index.php?option=com_content&view=article&id=11026:metropolitan-intervarsity-polo-2016-the-london-challenge&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=11026:metropolitan-intervarsity-polo-2016-the-london-challenge&catid=2:tianjin-finance&Itemid=27Northeast China's prestigious Metropolitan Intervarsity Polo 2016 invitational tournament kicked off with a bang on July 12th afternoon, with teams from Oxford and Cornell universities chalking up impressive wins at the event also known as The London Challenge.

Taking place in the summer heat of the city of Tianjin the tournament, in its fourth year running, saw the local glitterati come out to watch Oxford University Polo Club show their vintage against debutants Skidmore Polo Club. Cornell Polo Club beat off the challenge of their fellow US university giants, Harvard University Polo Club.

Cornell go on to face The University of London Polo Club, who have won the tournament twice in a row, 13th July in the next round. Oxford's prize for today's win is an enticing match-up with their fellow Brits and traditional rivals The University of Cambridge Polo Club.

Cornell beat Harvard by a narrow margin, clocking up a 4-2.5 victory over four chukkas on the regal environment of the Tianjin Goldin Metropolitan Polo Club's South Field.

The Oxford team's polo history dates back to its foundation year of 1874, and today the players seemed to bear the weight of their legacy with ease as they began dominantly against Skidmore, the team based in Saratoga Springs in New York. However, the latter team, making their first appearance at the Tianjin tournament, gave an impressive if somewhat belated fightback that meant that it was not all plain sailing for the Oxford players.

Following Ryan Saul's standard-setting performance for Cornell, Oxford's Louis Maddison proved to be an even more decisive force, banging in six goals in the space of the game's four chukkas as Oxford won by 7.5 points to 5.

Both matches showcased top class international talent, and a glimpse of the future of Chinese players was given with an opening equestrian performance from young members of the Tianjin Goldin Metropolitan Polo Club. With the tone set for a fantastic week of polo, things should hot up even further with tomorrow's matches.

Metropolitan Intervarsity Polo 2016 - The London Challenge

Results: Day 1, July 12, 2016

Cornell vs Harvard 4-2.5Oxford vs Skidmore 7.5-5

General Information of Metropolitan Intervarsity Polo 2016 - The London Challenge

Renaissance Hotels is known around the world for helping the next generation of business travelers to discover unexpected cultural experiences, and on Thursday, June 16, 2016, the Renaissance Tianjin Lakeview Hotel inspired guests and the local community to make time to discover unforgettable evenings with an exclusive Eternal Summer Party. Around 500 guests join the party to celebrate the annual Global Day of Discovery.

When the sun goes down, the mood heats up as the hotel hosts an 'Eternal Summer Party' with DJs, live acts, a selection of cocktails and culinary surprises. Amid a lakeside setting, guests can also browse a series of pop-up promoting locally-made art and crafts.

Renaissance Hotels believes business travel is always an opportunity to discover. This philosophy is described as Business Unusual, by which every stay is designed to defy the notion of "conventional" business travel by helping guests to uncover local, unexpected experiences. At Renaissance Hotels, a guest's trip is about much more than the 9 to 5, it's about making time for the #5to9, with a world of local music, art and culinary discoveries.

Global Day of Discovery's fifth anniversary kicked off with a signature bar ritual centered on local craft beverages curated by the hotel bartender and local beverage experts. The bar ritual is the signal that the 9-to-5 working day is over and it is time to transition into an incredible evening of discovery and celebrate the #5to9.

]]>frontpageFri, 17 Jun 2016 10:48:15 +0000Mr. Talayhan’s Tianjin Press Conference was held successfullyhttp://businesstianjin.com/index.php?option=com_content&view=article&id=10887:business-tianjin&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=10887:business-tianjin&catid=2:tianjin-finance&Itemid=27Starwood Hotels & Resorts Worldwide is pleased to announce the appointment of Ugur Talayhan as Managing Director of The Astor hotel, a Luxury Collection Hotel, Tianjin, The Westin Tianjin and Sheraton Tianjin Hotel. Mr. Talayhan will lead the team and be responsible for the overall operations, performance and strategic direction of three hotels. A veteran British & Turkish native hotelier, Mr. Talayhan brings with him 27 years in the hospitality industry where he has become well-known as an international hospitality business leader with passion and dedication.

Since 2000, he has worked for Starwood Hotels & Resorts, over a period of 16 years, heaccumulated experience with five brands in four countries including Sheraton Skyline Hotel, London, Complex Luxury Collection Hotel & Resort in Algarve, Portugal; and Le Royal Meridien Beach Resort & Spa, Dubai. Thereafter, he joined The St. Regis Beijing as Hotel Manager before becoming the general manager of the Westin Xi'an. Prior to coming to Tianjin, he was the general manager of Raffles Hainan which is the world's best luxurious hotel and appointed as the Vice President of Hainan Tourism Association International Hotels.

About his new assignment, Mr. Talayhan said, "I am very excited to receive this challenge to manage three different brand hotels in Tianjin; each has its own distinctive characteristics. Operating the 153-years-old legend The Astor Hotel, The vibrant and refreshing The Westin Tianjin and the first international hotel in Tianjin - Sheraton Tianjin Hotel is a great honor for me take on and I look forward to spearhead the future growt hand development of the three hotels to satisfy guests' different needs."

Mr. Talayhan's Tianjin Press Conference was held at The Westin Tianjin successfully on 14 June, 2016. He shared his richful hospitality experience with Tianjin media and introduced three hotels' future ambitions briefly. The Q&A session is vivid and interesting. Mr. Talayhan impresses media with delightful speech and lifted the conference atmosphere. After the conference, Mr. Talayhan invited 30 medias for the dinner at Seasonal Taste and everybody enjoyed the evening.

With nearly 100 hotels located around the world, Shangri-La offers one of the most extensive collections of inspired meeting and event venues, boasting more than 300,000 square metres of dedicated event space. The Meeting Fair, themed "Meet the World", started at 2:30 p.m. in the largest Grand Ballroom in town. Every table was highlighted by the rich decorations and diverse styling elements which features the various countries. The creative idea and dovetails with Shangri-La's events loyalty programme "Event Collection", which aims to make guests to "Experience You Design". As part of its focus on delivering personalised experiences, Shangri-La has revamped its meetings offering with the launch of the Events Collection, which provides planners rich personalisation and experiential options. Unique destination events, anchored in the community and curated by Shangri-La, are among the experiential elements organisers can incorporate into their meetings and events.

Shangri-La Hotel, Tianjin is known as the venue of choice for hosting events. This meeting fair presents to the attendees all of its conference and function rooms, featuring state-of-the-art meeting facilities and audiovisual equipment, renowned Shangri-La service as well as the tranquil setting and atmosphere away from the pace of the city. Various setup styles were displayed, including classroom, theater, Chinese/Western banquet setup, U-shape, and hollow square styles, which can cater to a wide range of event shapes and sizes. The site inspection was conducted with the hotel's service experts' warm guiding.

The fair had a very impressive opening with a cocktail party and a fantastic program "XXX", which the whole audience was quite carried away with. Mr. Jens Corder, the General Manager of Shangri-La Hotel, Tianjin gave a welcome speech of enthusiasm for all the guests, and followed by the Ms. Tracy Zou, Director of Sales & Marketing making a clear and professional presentation about the hotel's premium meeting and banquet facilities, as well as "Event Collection" and "Golden Circle Event Planner Rewards". She said, the Shangri-La Events Collection and Golden Circle Event Planner Rewards is an industry-leading meeting and events loyalty programme for meeting and travel professionals, which will offer meeting and travel professionals and any Golden Circle member the ability to earn elite status as well as earn and redeem points for groups, meetings, conferences and events across the Shangri-La, Kerry and Hotel Jen portfolio." Golden Circle Event Planner Rewards offers the highest level of rewards of any meetings and events loyalty programme. Planners can earn up to 40,000 Golden Circle Points on an event booking - the equivalent of 40 complimentary room nights. In addition, it is the only programme that allows members to earn double points for any subsequent meetings or events booked in the same calendar year. While, with the Event Collection, planners can enhance their events with added Shangri-La services - including everything from guestroom upgrades to airport transfers, coffee breaks to audio visual equipment - an automatic three per cent event credit is provided.

The meeting fair successfully ended with several lucky draw prizes and the fantastic show. The event sales team received many inquiries from the meeting organizers, some of whom confirmed their events at Shangri-La Hotel, Tianjin with the instant promotional packages.

Shangri-La Hotel, Tianjin is conveniently located on Haihe East Road with easy access to the subway. The hotel offers 289 parking spaces for guests, and has the largest banqueting facilities in the city. Since its opening, Shangri-La Hotel, Tianjin has hosted a number of conference and events with great success, including the 9th CIPEF, and the 19th National Academic Conference on Heating, Ventilation, Air-conditioning and Refrigeration.

Shangri-La Hotel, Tianjin will be a perfect choice to hold a splendid meeting and banquet for organizers, with its dedicated event specialists on hand every step of the way to customize the organizer's big activity right down to the smallest details. The 1,956-square-metre, pillar-free Grand Ballroom can accommodate up to 1,700 guests and is the largest and newest meeting destination in the city. To meet different needs, the Grand Ballroom can be subdivided into three smaller venues each spanning around 350 square metres. The Grand Ballroom is papered with hand-painted floral wallpaper to create the feeling of being in a garden pavilion. A range of indoor and outdoor venues are also available for smaller meetings or intimate social gatherings. All of the venues offer the latest facilities and equipment and are available for a variety of functions, from conventions to small corporate meetings and private entertainment.

]]>frontpageMon, 30 May 2016 12:45:46 +0000Tianjin aims to become world-class porthttp://businesstianjin.com/index.php?option=com_content&view=article&id=10724:peoples-daily-online&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=10724:peoples-daily-online&catid=2:tianjin-finance&Itemid=27Development of Tianjin Port in the past decade has been enormous. Its capacity has gone from 258 million tons of cargo and 5.95 million TEUs (Twenty-Foot Equivalent Unit) of containers in 2006 to 540 million and 14 million respectively in 2015. Tianjin Port is now the world's fourth largest port as calculated by tonnage, and the largest one in northern China.

Tianjin Port trades with more than 600 ports in 180 countries and regions around the world. It is served by over 115 regular container lines run by 60 companies. Now it has set up 25 land ports in 11 inland provinces, and sea-rail combined transportation will become its "artery" leading further into the Eurasian continent.

Via sea-rail combined transportation, the transport time for goods from Japan to Kazakhstan has been reduced from 70 days down to 15, said an official with the port.

In 2015, Tianjin Port received a total of 96 visits from international cruise ships and 427,000 inbound and outbound passenger flowsârecord highs for both figures.

It is expected that by 2020, the port's cargo throughput and container throughput will reach 650 million tons and 17 million TEUs respectively, which will provide strong support for it to become the nexus of international shipping in the north.

]]>frontpageThu, 19 May 2016 06:59:00 +0000Tianjin among China's top 10 'new first-tier' citieshttp://businesstianjin.com/index.php?option=com_content&view=article&id=10705:china-daily&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=10705:china-daily&catid=2:tianjin-finance&Itemid=27A list of "new first-tier" cities was released by CBN Weekly based on statistical analysis of the degree of commercial resources clustering, activities of citizens, variety of life and malleability in the future. Tianjin is one of the top 10 "new first-tier" cities, others on the top 10 list are Chengdu, Hangzhou, Wuhan, Nanjing, Chongqing, Xi'an, Changsha, Qingdao and Shenyang.

The list covers 338 Chinese cities, and was created after researching into the store locations of 160 brands supported by users' statistics provided by 14 internet companies.

]]>frontpageTue, 17 May 2016 06:07:22 +0000625 Meter Record to Dismantle the Tower@ Goldin Finance 117 Buildinghttp://businesstianjin.com/index.php?option=com_content&view=article&id=10647:business-tianjin&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=10647:business-tianjin&catid=2:tianjin-finance&Itemid=27With the smooth landing of last tower crane standard section, the two ZSL2700 whip-typed tower cranes which have already been used for the past 3 years were smoothly dismantled. Since 1st May, 2013, the four tower cranes used for the Goldin Finance 117 Building have worked safely for the past 1163 days, completing 68956 construction tasks. They made major contributions to the construction of the tallest building structure in Tianjin.

It is said that after the last hoisting construction of the Goldin Finance 117 project, the project department officially launched the whip-typed tower cranes dismantlement. The two ZSL2700 whip-typed tower cranes are the largest whip-typed tower cranes in China at present. The dismantle height of the whip-typed tower cranes reached 625 meters (Tower AÃ¢s height is 625m) which has created a domestic record for the demolition of tower crane height.

Although the project already fully prepared its work, the complexity and uncontrollability of the environment due to the location of the Goldin Finance 117 Building near the highway called for higher requirements for security management. In order to reach the required security level, the Goldin Finance 117 project established a tower crane demolition headquarters, which cover the unit owners and supervisors. The key person in charge of the project Mr. Dong Jianguo said: "This time we prepared very well for the dismantle work. Our original schedule for dismantling was in December, 2015 but considering the fact that the wind in winter is very strong in Tianjin, we delayed progress for 4 months and this is also an important measure to guarantee the safety of this project."

The removal of the 2 tower cranes, which established a solid foundation for the removal of other tower cranes, also provides a strong guarantee for the subsequent frame construction to successfully complete the top-out goal.

Ross joined the hospitality industry and Starwood family in 1998 in his home country of Australia as Financial Controller of Four Points by Sheraton Darling Harbour Sydney. Later in 2002, he was given a bigger responsibility in Sydney as acomplex Financial Controller for three hotels. In 2005, Ross relocated to Beijing China, based in Great Wall Sheraton serving as Area Director of Finance for China North Area.

Ross has been Hotel Manager for Sheraton Grand Beijing Dongcheng Hotel since 2011 where he gained his initial pre-opening experience and strengthened his operation skills and knowledge.

During his leisure time, Ross enjoys travelling, photography, golf, Aussie Rulesfootball and socializing!

With his senior hospitality industry management experience, Ross will oversee the hotel operations with a focus on leading our hotel team in delivering innovative, enriching and memorable experiences to delight our guests and in making their travel effortless always.

]]>frontpageWed, 04 May 2016 10:29:34 +0000Blue Frog Bar & Grill opened @ Joy City, Tianjinhttp://businesstianjin.com/index.php?option=com_content&view=article&id=10520:business-tianjin&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=10520:business-tianjin&catid=2:tianjin-finance&Itemid=27On Friday April 15th, Blue Frog Bar & Grill, one of the fastest growing Western casual dining restaurant chains in China, celebrated the opening of its newest location in Tianjin by hosting a blowout party. Over 200 revelers joined the party and followers responded to Blue Frog's live feeds on Weibo and WeChat throughout the evening.

Like other Blue Frog branches, Blue Frog Tianjin Joy City continues the tradition of the "Blue Frog 100 Shots Wall of Fame." The first customer to drink 100 shots receives a Blue Frog party coupon worth 5000rmb, a goody bag packed with blue frogÃ¢s unique merchandise, as well as a free shot on every visit for life! Challenge winners will also see their name proudly displayed on the Wall of Fame and will be eligible to receive merchandise goodies.

The new Tianjin Blue Frog Bar & Grill is located at 1F-J02, Joy City, No. 2 Nanmen Wai Dajie Street, Nankai District. It can be accessed by subway lines 1, 2, and 4.

The winners were based on millions of reviews collected in a single year from TripAdvisor users worldwide. The awards, given out over the last 14 years, recognize more than 7,000 properties in 97 countries. The hotels are judged based on service, quality and value. With its outstanding quality services, The Ritz-Carlton, Tianjin has become the only hotel in Tianjin listed by TripAdvisor among the 2016 Top Hotels category.

As the landmark luxury hotel in the city, The Ritz-Carlton, Tianjin is not only distinguished for providing finest facilities for discerning business and leisure travelers, but also renowned in the industry for delivering "legendary service" and creating unforgettable memories for guests, which has created many WOW moments for guests. Now in its third year since opening, The Ritz-Carlton, Tianjin has notched innumerable awards and become the top choice of travelers.

"It is a great honor and privilege for The Ritz-Carlton, Tianjin to have been recognized by TripAdvisor for 2016 Travelers' Choice Award. Our goal since our hotel opening is to be positioned as the best luxury hotel in Tianjin and in China. It is such a pleasure to have been recognized by our guests and TripAdvisor and I am proud of all the Ladies and Gentlemen of The Ritz-Carlton, Tianjin who create excellence and memorable experiences for our guests every day." expressed by Mr. Hugo Montanari, General Manager of The Ritz-Carlton, Tianjin.

]]>frontpageMon, 18 Apr 2016 08:38:39 +0000An Art Exhibition of “Memories in Tianjin” @ The Ritz-Carlton, Tianjinhttp://businesstianjin.com/index.php?option=com_content&view=article&id=10465:business-tianjin&catid=2:tianjin-finance&Itemid=27
http://businesstianjin.com/index.php?option=com_content&view=article&id=10465:business-tianjin&catid=2:tianjin-finance&Itemid=27The famous artist Mr. Ekkehard Stoevesand from Germany will hold his solo exhibition at The Ritz-Carlton, Tianjin from April 20th to April 24th, showing memories in Tianjin for a foreign artist in an artful angle.

The Ritz-Carlton, Tianjin has been famed as an "Art Museum", presenting more than 60 copies of world famous paintings on display in public areas. The exhibition for Mr. Ekkehard Stoevesand's art works with the elegant and exquisite atmosphere in the hotel will enhance your experience for an unforgettable art journey.

Ekkehard Stoevesand was born and growing up in Berlin. He studied at the UniversitÃÃÂ¤t der KÃÃÂ¼nste in Berlin and later he lectured sculpture and painting at the same university. During his artistic career he has worked on many sculpture and painting projects for individuals, celebrities, industry and government.

He started his artistic career as a sculpturer and later he turned his focus on painting. His abstract paintings are full of three dimensional shapes which are motion loaded. As abstract as his paintings are, they show how everything is in a state of change. In the period of 1998 - 2009 Ekkehard Stoevesand has travelled to China for 5 times. During these stays, he travelled in China, lectured at the Tianjin Arts Academy, did extensive painting in ateliers at the Tianjin Arts Academy and the famous "798 Arts district" in Beijing.

In his works which he created in various ateliers in China Ekkehard Stoevesand visualizes the high speed and incredible complexity of these changes in many aspects. He uses ordinary objects as a vehicle for his messages, from an old hutong door, the power station to different types of emotions and he leaves plenty of space for imagination for the viewer. Ekkehard Stoevesand's view of Tianjin and China in the time between 1998 and 2009 is a very special approach to visualize China's fast development from slow pace to "everything new, modern and high-tech".

Memories in Tianjin Art ExhibitionDate: April 20 - April 24Venue: 2F, the Lobby Bridge at The Ritz-Carlton, Tianjin

]]>frontpageWed, 13 Apr 2016 06:15:33 +0000China Just Threw a Major Wrench into Uber's Planshttp://businesstianjin.com/index.php?option=com_content&view=article&id=9789:reuters&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=9789:reuters&catid=26:china-finance&Itemid=65Uber’s plans to expand in China may be about to hit a roadblock.

China’s Ministry of Transport has just issued draft rules that could pose big problems for the ride-hailing service’s efforts in China, according to a report in the Wall Street Journal on Sunday.

The new draft rules would significantly tighten the regulations that ride-hailing companies such as Uber and local rival Didi Kuaidi must adhere to, requiring the services to shoulder many of the costs of traditional taxi companies.

That could be a big problem for Uber, which has apparently declared China its most important market outside of the US.

Among the proposed rules are requirements that drivers of ride-hailing services have at least three years of experience and that drivers work only for a single ride-hailing company. Ride hailing companies would have to register their cars as taxi services, insure vehicles and passengers and sign labor contracts with drivers.

The companies would also need to maintain servers in China and share data with local transportation authorities.

Not yet finalized

The rules could well change before they are finalized, and it’s not clear what the timeline is for implementing a final version of the rules, the report notes.

The rules could also add clarity to the ride-hailing business in China, which the report says currently operates in something of a gray-zone. But the prospect of tighter oversight in China could also be bad news for Uber, which has aggressive plans to expand in up to 100 additional cities in the country in the next year.

And it represents the latest regulatory challenge to Uber, which has attained a whopping $51 billion valuation on investor expectations that its low-cost model and convenient technology will allow it to upend the taxi industry. The company is facing a class action lawsuit by drivers in the US seeking to be treated as employees rather than independent contractors, and politicians in countries from France to South Korea are threatening to crack down on its service.

Computer maker Dell will invest 125 billion USD in China over the next five years, its chief executive said on Thursday, as the company continues to expand in the world's second-largest economy.

The world's third-largest maker of personal computers said the investment would contribute about 175 billion USD to imports and exports, sustaining more than one million jobs in China.

"The Internet is the new engine for China's future economic growth and has unlimited potential," Chief Executive Michael Dell wrote in a statement.

"Dell will embrace the principle of 'In China, for China' and closely integrate Dell China strategies with national policies," Dell said, adding that the company would continue to expand its research and development team in China.

Dell announced in 2010 it planned to spend $250 billion on procurement and other investments over the next 10 years in China, its second largest market outside the United States.

It was unclear if the $125 billion was part of that investment. Dell's China office did not immediately respond to a request for comment.

Dell has been in China for about two decades and, before it went private in 2013, saw annual sales in the country of roughly $5 billion.

In January, it announced partnerships with state-owned China Electronics Corporation and the municipal government of Guiyang.

Marius Haas, Dell's president of enterprise solutions, told Reuters in an interview after those tie-ups that partnering was the way to operate in China and the company had become much more aggressive with that strategy.

Dell ranked third in global PC shipments in the second quarter after Lenovo Group and Hewlett-Packard, according to research firm International Data Corp.

AULARE - Latin Urban Restaurant of Tianjin today announced that it has received a TripAdvisor® Certificate of Excellence award.

AULARE is the FIRST Restaurant in Tianjin to be recognised with this award. Tianjin is already included in the list of the TOP CITIES with this hospitality excellence certificate.

The accolade, which honours hospitality excellence, is given only to establishments that consistently achieve outstanding travellers reviews, and is extended to qualifying businesses worldwide.

Only a few of the top-performing businesses listed on TripAdvisor receive this prestigious award. To qualify for a Certificate of Excellence, businesses must maintain an overall top rating on TripAdvisor, and must have been listed for at least 1 year.

“AULARE – Latin Urban Restaurant of Tianjin is pleased to receive a TripAdvisor Certificate of Excellence,” said Ms. Cecile Gamilong, Manager at AULARE – Latin Urban Restaurant. “We strive to offer our customers a memorable experience, and this accolade is evidence that our hard work is translating into positive reviews on TripAdvisor.”

“TripAdvisor is delighted to celebrate the success of businesses around the globe, from Sydney to Chicago, Sao Paulo to Rome, which are consistently offering TripAdvisor travellers a great customer experience,” said Alison Copus, Vice President of Marketing for TripAdvisor for Business. “The Certificate of Excellence award provides top performing establishments around the world the recognition they deserve, based on feedback from those who matter most – their customers.”

Thanks to all AULARE staff and customers!

]]>frontpageMon, 03 Jun 2013 01:47:02 +0000China to promote healthy development of trade with Africahttp://businesstianjin.com/index.php?option=com_content&view=article&id=6878:china-to-promote-healthy-development-of-trade-with-africa&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6878:china-to-promote-healthy-development-of-trade-with-africa&catid=26:china-finance&Itemid=65China will promote the healthy development of its trade with Africa through taking multiple measures, according to a white paper released by the Chinese government on Thursday.

These measures include implementing the "Special Plan on Trade with Africa," which will expand the scope of zero tariff treatment for African products exported to China and increase China's imports from Africa, according to the paper released by the Information Office of the State Council.

China will also improve the brand building, marketing channels and quality of China's commodities exported to Africa, the paper said.

In addition, China will help African countries improve their customs and commodity inspection facilities by mobilizing aid for trade, provide support for African countries to promote trade facilitation, and push forward trade development within Africa, according to the white paper.

It says that Sino-African bilateral trade has great potential due to the complementary conditions on both sides, and is significant for common economic development.

China became Africa's biggest trade partner in 2009. In the following two years, the scale of bilateral trade expanded rapidly. In 2012, the total volume of China-Africa trade reached $198.49 billion, a year-on-year growth of 19.3 percent, the paper says.

The agreement, known as the Convention on Mutual Administrative Assistance in Tax Matters, is the first multilateral tax instrument China has signed.

The participation of Beijing, the last Group of 20 member to sign the agreement, was viewed as a timely and significant step as it means all G20 countries are now moving toward the implementation of automatic tax information exchanges as a new global standard, which is also a main priority of the upcoming G20 summit in St Petersburg, Russia, next week.

Wang Jun, director of the State Administration of Taxation, said at a news briefing in Paris that China's participation has "significant implications" as it will help enhance the country's international tax cooperation while it experiences major economic and structural reforms.

"It also reflects further integration and opening-up of China's taxation system to the international community," he said.

The convention was initially proposed by the Organization for Economic Cooperation and Development and the Council of Europe in 1988. In 2010, it was opened to all countries. Since then, 56 countries have joined.

OECD Secretary-General Angel Gurria said that China's decision to sign the agreement is a timely and important step as it reinforces the international will and collaboration in tax information exchanges.

"We hope that the ratification of the convention will take place soon in China so that we can really move forward," he said.

Tax experts said that China's joining the convention is part of a global trend moving from bilateral to multilateral cooperation to fight offshore tax evasion.

By joining the convention, Chinese tax authorities will be able to gain access to the spontaneous exchange of information, simultaneous tax examinations and assistance in tax collection.

"It is a very important sign that the Chinese tax authorities are getting more comfortable with the tax standards practiced in Europe and the US. And the convention can only work when all major economic powers join," said Erik Stroeve, a tax partner at audit and accounting firm Mazars.

]]>frontpageWed, 28 Aug 2013 08:51:58 +0000Mainland firms snap up HK assetshttp://businesstianjin.com/index.php?option=com_content&view=article&id=6867:mainland-firms-snap-up-hk-assets&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6867:mainland-firms-snap-up-hk-assets&catid=26:china-finance&Itemid=65Hong Kong has seen an expansion of investment and acquisitions in sectors such as retail, property and banking, reports Oswald Chan.

While some Hong Kong-based blue-chip companies are selling their local business assets, a spate of mainland enterprises are expanding into the city's retail, property and banking sectors in search of business diversification.

CRE said that it may raise debt and does not rule out selling "non-core" assets to fund the ParknShop purchase. The sale of the local supermarket grocery chain will fetch an estimated $3 billion to $4 billion.

In the property sector, mainland property developers have become more aggressive when bidding for land parcels in Hong Kong since 2012. China Overseas Land and Investment Ltd successfully grabbed two land parcels in the Kai Tak region, whereas the Hong Kong government specified that property developers can sell the residential flats built on those two parcels only to Hong Kong permanent residents.

Mainland flagship property developer China Vanke Co, in cooperation with Hong Kong blue-chip developer New World Development, also successfully bid for a land parcel in Tsuen Wan early this year. Vanke said that its interests in the Tsuen Wan parcel will be injected into its locally listed subsidiary, Vanke Property Overseas.

]]>frontpageTue, 27 Aug 2013 07:42:01 +0000New Zealand posts trade deficit in Julyhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6859:new-zealand-posts-trade-deficit-in-july&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6859:new-zealand-posts-trade-deficit-in-july&catid=26:china-finance&Itemid=65Exports to three of New Zealand's top five trade partners plunged last month, as demand fell for crude oil and dairy products, while imports rose, the government statistics agency announced Monday.

Exports to Australia, the United States and Japan were all down, while exports to China rose 22 percent year on year to NZ USD 653 million (USD 509.91 million), led by sheep meat and pine logs, and exports to the Republic of Korea (ROK) were up 7.7 percent to NZ USD 134 million, according to Statistics New Zealand.

The value of total imports was up 17 percent year on year to NZ$4.6 billion, led by imports of aircraft and parts as well as crude oil.

"Higher goods imports led to a deficit of NZ USD 774 million, the largest for a July month since 2008," industry and labor statistics manager Louise Holmes-Oliver said in a statement.

"July months normally have trade deficits, but there were small trade surpluses in July 2011 and 2012."

The value of total exported goods fell NZ USD 196 million (4.8 percent) to NZ$3.8 billion, driven down by crude oil, and milk powder, butter and cheese.

The trade deficit was the largest of the previous five July months since 2008.

]]>frontpageMon, 26 Aug 2013 06:29:53 +0000Japan exports to China lowest in 4 yearshttp://businesstianjin.com/index.php?option=com_content&view=article&id=6823:japan-exports-to-china-lowest-in-4-years&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6823:japan-exports-to-china-lowest-in-4-years&catid=26:china-finance&Itemid=65Japanese exports to China in the first half of this year decreased to the lowest level in four years amid strained ties between the top two economies in Asia as well as China's economic slowdown.

Despite the depreciation of the yen against the Chinese yuan, Japan's exports to the Chinese mainland declined 16.7 percent year-on-year to USD 61.43 billion in the January-June period. In the same period, the United States replaced the Chinese mainland as Japan's biggest export market, the first time in five years, with exports valued at USD 65.56 billion, according to the Japan External Trade Organization.

"Japan's decreasing exports to China mainly came from weak demand in China, which was caused by deteriorated bilateral ties as well as slower economic growth in China," said Li Xiangyang, director of the Institute of Asia-Pacific Studies under the Chinese Academy of Social Sciences.

After the "purchase" of part of China's Diaoyu Islands in the East China Sea in September, Japan's ties with China soured, which took a toll on the sales of Japanese brands.

"Japanese exports to China are part of the East Asian production network within which Japanese companies in China are a major force. Sluggish sales of Japanese products in the Chinese market hit Japanese shipments to China," Li said.

Yoichi Maie, director of China research at the Japan External Trade Organization, was quoted as saying on Thursday that easing infrastructure development in China led to Japan's particularly weak exports for construction and mining equipment, which fell 61.6 percent year-on-year.

Meanwhile, weaker private consumption in China accounted for a 47.7 percent drop in exports of digital cameras and other audiovisual equipment.

Yao Haitian, a researcher from the Institute of Japanese Studies at the Chinese Academy of Social Sciences, added that Japan's decelerating exports to China reflected the strained political ties between the two economies because improved market demand in the US and the European Union did not drive Japanese companies in China, part of the East Asian production network, to increase buying from Japan.

He also noted that Japan's shipments to other major markets, including the US, the Association of Southeast Asian Nations and the EU, also declined.

Although China's statistics of bilateral trade differed from their Japanese counterparts, they both revealed declining shipments between the two countries. The first half saw China's imports from Japan slump 13.8 percent year-on-year to USD 76.12 billion, according to China's General Administration of Customs. China's exports to Japan dropped 3.8 percent year-on-year to USD 70.81 billion in the same period.

The Japan External Trade Organization's data showed that Japan's imports from the Chinese mainland dropped 6.1 percent year-on-year to USD 85.84 billion in the first half, while the trade deficit with China was recorded at USD 24 billion, up 38.1 percent year-on-year.

Li from the Chinese Academy of Social Sciences, said Japan's shrinking imports from China were mainly caused by rising costs in China and depreciation of the yen, which weakened the competitiveness of Chinese goods.

"Throughout 2013, bilateral trade between China and Japan will not be satisfactory because Japan made no pragmatic moves to improve bilateral trade ties," he added.

"Meanwhile, Japanese investors became more worried about the Chinese market. New investment favors the Southeast Asian markets because of insufficient confidence in the Chinese market, although Japanese investors in China did not withdraw their investments," Li said.

He added that Japanese shifting of investment to the Southeast Asian countries, mainly in labor-intensive industries, started before the islands disputes and was caused by rising costs in China.

The shift away from China to Southeast Asia is likely to continue as Japanese companies seek a safer political environment as well as lower labor and business costs, The Wall Street Journal quoted the Japan External Trade Organization Chairman Hiroyuki Ishige as saying.

"On the back of increasing China downside risk, Japanese corporate investment in ASEAN has accelerated in 2013, a clear difference from investment in China," said the 2013 Japan External Trade Organization Global Trade and Investment Report on 8 August.

The organization's data showed Japan's direct investments in China for January to June fell 31.1 percent from the year before to USD 4.9 billion. China's Ministry of Commerce said foreign direct investment from Japan rose 14.37 percent from a year earlier to USD 4.69 billion in the first half.

]]>frontpageFri, 16 Aug 2013 07:07:23 +0000China to boost information consumptionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6817:china-to-boost-information-consumption&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6817:china-to-boost-information-consumption&catid=26:china-finance&Itemid=65China has to step up its effort to boost domestic information consumption and make the sector a new driver for economic growth, according to a State Council guidance issued on Aug 14.

Promoting information consumption, a field that involves e-commerce business, the Internet and cloud computing technology, can effectively drive demand, create new sources of economic growth and help upgrade consumption, said the guidance.

China aims to boost public and household spending on the IT industry by more than 20 percent annually through 2015, the document said. By that time, the nation's information consumption volume is expected to exceed 3.2 trillion yuan ($522 billion), driving new output in related industries of 1.2 trillion yuan.

The country's e-commerce sector is expected to experience rapid growth as well. By 2015, the transaction volume on China's e-commerce platforms is targeted to be 18 trillion yuan, of which 3 trillion yuan is expected to come from online retail transactions.

The guidance also calls for significant improvement in the country's information infrastructure. By 2015, the broadband access speed in Chinese city households should reach 20 Mbps, and rural households are expected to have a broadband speed of 4 Mbps.

"About 70 percent of the vegetables in our farm have withered because of the high temperatures. We have had to suspend supplying vegetables to more than half of our customers from last week," said Liu Guiyu, manager of Big Water Buffalo, a company that sells organic vegetables through membership services based in Changzhou, in East China's Jiangsu province.

The output of the company amounts to 3,000 kilograms on average every month, but it will drop to 1,500 kg this month because the area is suffering temperatures as high as 40 °C.

"We will not be able to restart normal supplies until late September," he added.

The price of fresh vegetables has surged by 20 to 40 percent in Shanghai in the last two weeks. In Jiaxing, a city located in neighboring Zhejiang province, the price of red chili peppers reached 40 yuan a kg on Monday, twice the price of fresh pork, local media Jiaxing Daily reported.

Autumn grain output and pork prices will be important factors affecting inflation, but their prices will not rise dramatically, said Liu Chunyuan, associate dean of the School of Economics at Renmin University.

Liu said sluggish growth and weak demand will not create the possibility of a sharp rebound in inflation.

Food prices have been a major factor creating high inflation in China. The National Bureau of Statistics said food prices were actually not a big element in the consumer price index in early 2011.

Tang Jianwei, an economist with the Bank of Communications, said although food prices may increase in August, the pressure of wider inflation will be offset by a stronger consequential effect.

"The price for fresh vegetables may keep going up if high temperatures linger, but CPI growth will be stable or even fall," said Tang.

The CPI growth rate in August 2012 was 2 percent, higher than the 1.8 percent in July this year. This August will see it even lower, he added.

A report released on Friday by the Chinese Academy of Social Sciences said 53 percent of 100 surveyed economists believe inflation will rise during the remainder of the year. Forty percent of them said prices will stay generally stable.

According to the National Bureau of Statistics, China's consumer price index, a main gauge of inflation, grew 2.7 percent year on year in July, staying flat from June.

Food prices, which account for one-third of the prices used to calculate the CPI, saw steeper growth than other, non-food, categories, including clothing, home appliances and daily necessities.

The price of meat and poultry products rose by 5.9 percent, pushing the CPI up by 0.42 percent. Fresh vegetables are 11.8 percent more expensive, raising the CPI by 0.32 percent.

]]>frontpageWed, 14 Aug 2013 03:55:34 +0000Gold still glitters in Chinahttp://businesstianjin.com/index.php?option=com_content&view=article&id=6804:gold-still-glitters-in-china&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6804:gold-still-glitters-in-china&catid=26:china-finance&Itemid=65China's gold consumption rocketed by 54 percent in the first half of 2013 despite a bearish market globally, putting the country on track to become the top bullion consumer this year.

The China Gold Association said on Monday the country's first-half gold consumption reached 706.36 metric tons, up 53.7 percent year-on-year. Growth accelerated from the 26 percent recorded in the first quarter.

Purchases in 2012 were 832 tons for the entire year.

More than 70 percent of first-half consumption depended on imports because the gold output of China, the world's largest bullion producer, was only 192.82 tons in the first six months, 8.9 percent more than a year before.

Net imports into the Chinese mainland more than doubled in the first half to 493 tons, from about 239 tons a year ago, according to Bloomberg calculations based on Hong Kong customs data.

The strong growth this year was mainly supported by a surge in gold-bar and jewelry purchases, which gained 87 percent and 44 percent respectively, the China Gold Association said. The two together accounted for more than 90 percent of the total gold consumption in the first half.

Data from the country's central bank on Friday showed that China's new yuan-denominated loans in July stood at 699.9 billion yuan ($113.49 billion), 159.8 billion yuan more than a year ago.

The figure has outstripped market expectations of about 600 billion yuan, said E Yongjian, a financial analyst with the Bank of Communications.

"Although the figure was down from 860.5 billion yuan in June, it was still at a high level. According to usual practices, new loan issuance would be controlled at around 600 billion yuan for each month coming into the third quarter," E said.

Meanwhile, both M2, the broad measure of money supply that covers cash in circulation and all deposits, and M1, the narrow measure of money supply, which covers cash in circulation plus demand deposits, also showed faster growth last month, according to the figures.

By the end of July, M2 increased 14.5 percent year on year, up from June's 14 percent pace, while M1 expanded 9.7 percent, up from the 9 percent growth last month.

The government's recent support measures for construction on railways and urban infrastructure, shanty town renovation as well as environmental protection industries have boosted demand for loans. The fact that banks were capable of releasing more loans after a recent money crunch has shored up credit supplies, macroeconomic analysts said.

In June, Chinese lenders were hit by a severe cash shortage crisis, as indicated by a surge in the Shanghai Interbank Offered Rate overnight rate, a basic gauge of interbank borrowing costs, to a historic high of 13.44 percent on June 20.

"The acceleration in the country's credit supply showed that authorities have loosened controls over lending after the crisis, underlying the government's intention to stabilize growth," said Guan Qingyou, an analyst at Minsheng Securities' research institute.

China's economy has been stuck in a protracted weak recovery, easing to 7.5 percent growth in the second quarter from 7.7 percent in the first three months and 7.9 percent in the final quarter of 2012.

"The credit supply increase points to a consolidating growth trend in the third quarter," Guan said.

Changes in July's lending structure also revealed positive signs. Of last month's lending, the amount in newly-released short-term loans for non-residential clients significantly dropped, while that for non-residential medium and long-term borrowing increased.

"The expansion in medium and long-term loans is a sign for a stabilizing real economy," E said.

The trend is also reflected by other indicators.

According to official data, the purchasing managers' index for the country's manufacturing sector rose to 50.3 percent in July from 50.1 percent in June, implying improving factory production. A reading above 50 percent indicates expansion, while one below shows contraction.

]]>frontpageMon, 12 Aug 2013 03:45:39 +0000Sino-US trade gap narrowshttp://businesstianjin.com/index.php?option=com_content&view=article&id=6793:sino-us-trade-gap-narrows&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6793:sino-us-trade-gap-narrows&catid=26:china-finance&Itemid=65United States exports to China, which have been growing in recent years, increased 4.5 percent in June, narrowing the trade deficit between the world's two largest economies, according to US Commerce Department figures released on Tuesday.

Exports to China — one of the fastest-growing markets for US goods — were up 4.2 percent for the first half, the new data show.

US exports to the European Union, however, only rose 1.5 percent in June, with first-half exports to the EU down 5.5 percent.

Guo Feng, a senior economist at the Institute of International Finance, said that US-China trade dynamics were affected by China's currency rate and increases in certain categories of US goods in June.

"The appreciation of the yuan versus its basket has been about 5 percent so far this year, making China's goods less competitive on the world market,"said Guo.

"The Chinese interbank cash crunch in June may have had some negative impact on exporters, and China increased imports from the US of goods such as machinery and agricultural products in June,"he added.

The yuan has appreciated by 1 percent against the dollar since the beginning of 2013.

Because of the weakening of some major currencies — including the yen and the British pound — the yuan's value has been pushed up in recent months, appreciating by nearly 20 percent against the yen since July.

The new US trade figures show imports from China fell 2.2 percent, lowering the contentious US trade deficit with China to $26.6 billion from $27.9 billion in May.

"China has been a fast-growing export destination for US companies and the underlying trend for US exports to China has been upward since mid-2009,"said Sophii Weng, an economist with Standard Chartered Bank in New York.

China remained the US' third-largest export market after Canada and Mexico, purchasing nearly $110 billion in US goods in 2012, according to the Washington-based US-China Business Council, which represents more than 200 US companies doing business in China.

The council's new report on US exports to China by congressional district — released last week — showed that between 2003 and 2012, total US exports to China rose 294 percent.

]]>frontpageThu, 08 Aug 2013 03:47:52 +0000Mobile Internet giants rival in e-commercehttp://businesstianjin.com/index.php?option=com_content&view=article&id=6786:mobile-internet-giants-rival-in-e-commerce&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6786:mobile-internet-giants-rival-in-e-commerce&catid=26:china-finance&Itemid=65China's two Internet giants Sina Weibo and its rival Tencent WeChat have rolled out new products with more commercial functions, marking the escalation of competition in the Chinese mobile Internet market.

The Twitter-like microblogging service Sina Weibo, which received USD 586 million in investment from China's e-commerce giant Alibaba in April, launched its Taobao-friendly version on Monday. It allows users to log into the online shopping platform Taobao.com via a Weibo account, check prices, credibility and popularity, make payments and share with friends.

Also on Monday, Tencent rolled out an iOS update to its popular talk-and-text app WeChat, featuring payment services, a games center and a sticker store in a bid to monetize the free app. A WeChat-customized subscriber identification module (SIM) card was also released in collaboration with telecom giant China Unicom.

"The launch of commercial-oriented products of the two Internet giants mark the heating up of competition on the mobile Internet commerce market, and it heralds reforms in the e-commerce industry," said Cui Kai, senior analyst with Upperplus, a domestic Internet research and consulting firm.

Since 2012, Sina Weibo has been marching with its commercialization push by taking a series of profit-making steps such as focused interactive advertising, social networking games, real-time search functions and e-commerce platforms.

In its latest version for mobile users, Sina Weibo updated with similar bar-code-scanning function in late July, signaling its move towards mobile Internet commerce.

Zhejiang-based online snack shop Bee & Cheery, one of the first business users to try the Taobao-friendly Sina Weibo, said the service contributed to over 50 percent of their online shop's total traffic on Monday.

In the meantime, as WeChat gains national as well as global popularity, Tencent took its first commercial move to monetize WeChat in an attempt to cash in on its 400 million-plus user base.

]]>frontpageWed, 07 Aug 2013 02:34:18 +0000Service sector drives up growthhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6781:service-sector-drives-up-growth&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6781:service-sector-drives-up-growth&catid=26:china-finance&Itemid=65The service sector is tipped to replace the manufacturing industry and become the strongest driver of the Chinese economy.

Economists said China seems to be moving toward a more environmentally sustainable and less resource-intensive growth pattern, as the faster improvement of the service sector is in stark contrast with a sluggish manufacturing industry.

The British financial group HSBC reported on Monday that July's service purchasing managers index was 51.3, signaling a modest increase in business activity in the service sector.

New order growth in the sector rose to a five-month high as market demand increased. Employment in the sector also improved slightly, HSBC said.

The HSBC index reinforces the findings of the official non-manufacturing PMI data, released on Saturday — a reading of 54.1 in July, up from 53.9 in June.

"The current indicators suggest that non-manufacturing growth is stable and sound, providing a solid foundation to the overall economy," said Cai Jin, vice-chairman of China Federation of Logistics and Purchasing, which compiles the official non-manufacturing PMI data.

"It is a good start to the second half. We are confident of stabilizing growth and achieving the year's target, although there will be more challenges," he said.

Qu Hongbin, chief economist in China and co-head of Asian economic research at HSBC, showed more concerns about sustainable service growth in the near future.

"Although the service sector has maintained stable growth so far, the profit margin continues to be squeezed, given the divergence between input prices and prices charged."

In contrast to the service sector, the HSBC manufacturing PMI stood at 47.7 in July, down from 48.2 in June, reaching an 11-month low and indicating an increasing rate of contraction of industrial businesses that face excessive production capacity.

The official manufacturing PMI data increased to 50.3 in July from 50.1 in June.

Chang Jian, a senior economist with Barclays Capital, said that despite the disappointing industrial performance, the service sector is becoming China's new growth engine and it has been "the bright spot" in the first half.

He says this has also been helped by the growth of entertainment facilities in urban centers such as cinemas and theme parks, which would not have been economical in less concentrated rural areas.

At the same time, broadband connectivity is allowing people in smaller cities and more rural areas to enjoy entertainment activities such as watching TV programs on the Internet, or playing games, he says.

Fenez says this growth will create many opportunities for foreign companies because they have an advantage in delivering such content, particularly in sectors such as films, television shows, theme parks and exhibitions.

However, foreign players also face numerous restrictions operating in China, particularly in the TV and film industries, he says.

One such example is the restriction on the number of foreign films that can be imported into China, to protect the domestic film industry. Last year this number was increased to 34 a year, from 20 previously.

"In the Chinese market, the demand for foreign films is much higher than 34. There are definitely opportunities for foreign players, but they will have to work with Chinese partners," he says.

Fenez says such regulations have encouraged foreign production companies to co-produce films with Chinese companies in recent years. Examples include Warner Bros Entertainment Inc, Legendary Pictures LLC, Sony Pictures Entertainment Inc and DreamWorks Studios, all of which have entered into co-production ventures in China, he says.

"The focus is on producing films incorporating world-class expertise but targeted at China's domestic audience", he says.

"In terms of expertise, if you look at some of the production quality of what is coming out of Hollywood, they are very strong on the technical effects and the storyline.

"Foreign companies can share with domestic partners the latest developments either in terms of technology or approach."

In a typical partnership the foreign player would typically work with the Chinese partner to identify the right story line, one that would work with the local audience, and then they would work together to develop the right script.

"Identifying the right talent and the choice of the location of shooting are mainly the responsibility of the domestic player. The local partner can also negotiate appropriate licenses for shooting."

"The foreign partner would make decisions on the technology aspects. For example, if computer-generated imagery should be used and whether the production should involve a great deal of visual effects. In that area, we see a lot of local partners keen to have what is available globally," he says.

After the program has been produced, the local partner would have a significant role to play in distribution through cinemas, he says.

]]>frontpageMon, 05 Aug 2013 02:39:10 +0000Imbalance seen in Sino-US talent exchangeshttp://businesstianjin.com/index.php?option=com_content&view=article&id=6770:imbalance-seen-in-sino-us-talent-exchanges&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6770:imbalance-seen-in-sino-us-talent-exchanges&catid=26:china-finance&Itemid=65China and the United States are reporting a huge imbalance in attracting talented people from the other side, with an expert calling for more Chinese and American government support to encourage talent mobility between the two countries.

A new round of talent flow will be aroused with the development of globalization, said Wang Huiyao, president of the China Global Talents Society, at a symposium on global talent movement on Thursday.

Wang said that the number of Chinese students in the United States has surged in the past few years, increasing from 67,723 in 2007 to 194,029 in 2012.

In the meantime, an increasing number of Chinese juniors, particularly those middle school students, are studying in the United States, up from 65 in 2005 to 6,725 in 2010, according to the Chinese talents society.

"Although China is seeing soaring numbers of students studying in the United States, the number of US students to China has remained relatively stable in recent years," Wang added.

The number of US students studying in China rose to 14,596 in 2011 from 11,064 in 2007, an unparallel pace compared with the upsurge of Chinese students in the US.

He suggested the Chinese government strengthen its projects and policy on overseas talents, lower Chinese green card requirements and focus on global entrepreneurs and innovators, so as to attract more foreign talented people.

National Development and Reform Commission Minister Xu Shaoshi showed his determination on Wednesday in an interview with Xinhuanet.com, one day after President Xi Jinping vowed to guarantee the year's target by further clarifying the government's policy stance for the second half of the year and confirming the direction of ongoing structural reforms.

Xu stressed the need to maintain "moderately abundant" monetary liquidity and efficiently make use of credit and fiscal capital to support the industrial economy.

"Policy fine-tuning will be likely at the right time," he said.

"Diversified adjustments that take into consideration the different situations of regions, industries and enterprises will be taken in the second half" to strengthen enterprises' confidence by maintaining growth within a reasonable range and preventing risks, Xu said.

For the next step of reform, the minister also pledged the nation would launch demonstration projects for private funds to invest in infrastructure construction and public services, as well as eliminate unreasonable fees in banking services.

A statement from the Political Bureau of the Communist Party of China's Central Committee laid out its main strategies for the coming quarters on Tuesday. They include increasing public consultation, maintaining rational investment growth and supporting small and medium-sized enterprises.

It said economic growth in the first six months of the year was "stable" despite extremely complicated domestic and international conditions.

The country's economy experienced 7.6 percent year-on-year GDP growth in the first half of the year. The second quarter growth slowed to 7.5 percent from 7.7 percent in the first quarter.

]]>frontpageThu, 01 Aug 2013 03:53:22 +0000China's tax revenue growth slows in H1http://businesstianjin.com/index.php?option=com_content&view=article&id=6751:chinas-tax-revenue-growth-slows-in-h1&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6751:chinas-tax-revenue-growth-slows-in-h1&catid=26:china-finance&Itemid=65The Ministry of Finance (MOF) announced Monday that China's tax revenues, a major source of the government's fiscal income, grew at a slower pace in the first half of this year.

During the January-June period, the government collected tax revenue totalling 5.93 trillion yuan ($961 billion), up 7.9 percent year on year but slower than the 9.8-percent increase seen in the same period last year, the MOF data show.

The revenue from domestic value-added tax (VAT), a type of tax levied on the difference between a commodity's retail price and production cost, increased 6.6 percent to 1.43 trillion yuan, down 1.5 percentage points from the growth seen in the first half of 2012.

The subdued growth in VAT revenues was due to slower expansion in industrial added-value, falling prices, a persisting downturn in markets for some raw materials and energy products, as well as structural tax cuts, according to the MOF.

Consumption tax revenues increased 3.6 percent year on year to 435.35 billion yuan, 8.1 percentage points lower than the growth rate for the same period last year.

But the MOF noted fast expansion in tax revenues for turnover tax, especially in the real estate sector and the construction industry, due to warming property transactions in the first half of the year.

In the first six months, turnover tax revenues grew 12.9 percent to 884.51 billion yuan, compared with a 9.6-percent increase in the first half of 2012. Turnover tax collected from the property sector and the construction industry surged 45.7 percent and 18.0 percent year on year, respectively.

The revenue growth for corporate income tax also slowed, with the category's total tax revenues up 14.2 percent to 1.50 trillion yuan, while revenues from personal income tax broke through the decline seen in the same period last year, increasing 11 percent to 363.08 billion yuan.

The MOF has attributed the fast growth in personal income tax revenues to higher disposable personal incomes and rising transaction prices in second-hand home sales.

Fiscal revenue in China includes taxes, administrative fees and other government income, including fines and earnings from State-owned assets.

Previous MOF data show that China's fiscal revenue growth decelerated to 7.5 percent in the first half on the back of a continuous economic slowdown and the country's structural tax reforms, including a pilot program to reduce Chinese companies' tax burden by replacing the turnover tax with VAT.

]]>frontpageTue, 30 Jul 2013 03:49:25 +0000China's land market picks up againhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6745:chinas-land-market-picks-up-again&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6745:chinas-land-market-picks-up-again&catid=26:china-finance&Itemid=65China's land market regained steam in the April-June period after a quiet first quarter, with real estate investment picking up speed, according to an analysis report published by the Ministry of Land and Resources (MLR) on Sunday.

The Q2 composite index for China Land Index (CLI), released by the MLR's center of land and mineral legal affairs to gauge the health of the overall land market, increased 17.4 percent from the previous quarter, or 19 percent from the same period last year, the report showed.

It marked a rebound from the first three months, when the CLI witnessed a fall in major indices after the central government rolled out a string of measures to cool the country's red-hot property market at the beginning of the year.

During the April-June period, the property market climate sub-index for CLI jumped 29.5 percent from the previous quarter, or 11.4 percent from the same period last year, landing in an interval that points to "overheated development," the report said.

The climate sub-index was mainly pulled up by mounting investment in the property sector, which increased 91.4 percent quarter-on-quarter and 23.8 percent year-on-year, according to Sun Yinghui, the center's director.

Sub-index for the land market scale was also up 26 percent from the previous quarter, or 20 percent from the same period last year, indicating a stubborn demand on the land market, said the report.

In the first half, both supply and demand for the land for real estate remained strong, showing that a policy to simply expand land supply to curb property prices is hardly sustainable, said Sun, urging more efforts to mobilize existing land resources and exploiting the vacant land.

]]>frontpageMon, 29 Jul 2013 03:52:56 +0000Small exporters 'need more help' to weather tough times http://businesstianjin.com/index.php?option=com_content&view=article&id=6736:small-exporters-need-more-help-to-weather-tough-times-&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6736:small-exporters-need-more-help-to-weather-tough-times-&catid=26:china-finance&Itemid=65The government has focused on helping small businesses in its latest moves to stimulate growth, which is being impeded by a slowdown in exports.

Economists said that the incentives for struggling exporters, such as fee cuts and tax exemptions announced earlier this week, are designed to provide small businesses with a badly needed liquidity lifeline.

Although the measures are being welcomed by business leaders, some of them are calling on the government to take even bolder steps to reinvigorate the manufacturing and export sector.

The State Council said on Wednesday that it would simplify customs clearance procedures, cut administrative fees and provide zero tariffs for exporters in the service sector.

Analysts said that the moves are of particular significance at a time when the most widely watched indicators show a worsening export outlook.

The purchasing managers' index of business conditions fell to 47.7 in July from June's final reading of 48.2, according to HSBC Bank Plc's index, in which smaller companies carry a heavy weight.

The trade stimulus plans are pro-growth methods to alleviate burdens for small businesses, enabling them to keep more cash on hand and speed up export procedures, economists agreed. "For instance, the waiver of export product examinations will save companies time and money spent on renting warehouses," said Zhao Pei'en, a certified public accountant in Shanghai.

The administrative fee waiver is a "substantial bonus" for a wide range of industries, he added.

Gao Qiang, general manager of Shanghai SVS Tools Co Ltd, called the moves a "fine-tuning", representing government efforts to improve liquidity among cash-strapped firms.

"Thanks to the policy, our company may save up to 1.5 million yuan ($244,383) per year. It's not necessarily a bulky amount, but we do appreciate it," said Gao, whose firm recorded 50 million yuan in revenue in 2012.

"The administrative cost for exports, which only equals 0.15 percent of the value of items, will hardly exert any genuine influence on us, but the waiver does save us some time and labor expenses," said Guo Xuefei, the financial officer of Wenzhou Longde Shoes Co Ltd.

To ease the financial crunch, Guo said a way to help small companies would be to increase the export rebate rate, a tool that the government has applied to shore up key export sectors.

In a further push to help companies, the government will also temporarily suspend business and value-added taxes for more than 6 million small companies.

The decision is largely a "symbolic" government-led endeavor to enrich small-scale businesses and prevent renewed fears of a Chinese hard landing, said Dai Jie, head of the international cooperation office of the Shanghai Small Enterprises Center.

"The message being sent here is a strong will to defend a stable growth rate and prevent employment from slipping too far," he said.

For instance, Shanghai is home to more than 340,000 micro and small enterprises, which account for a dominant share, or 96.7 percent, of all types of companies in the city. They provide 54.6 percent of the city's jobs, according to government figures.

But Dai urged the revenue threshold to be lifted so that more companies are eligible for the tax breaks.

"The current level for tax exemption comes at too low a scale, as very few micro and small enterprises record monthly sales revenue of less than 20,000 yuan," said Liu Mengjue, manager of Wenzhou Jinyi Clothes, which has 40 employees. It exports mostly to the US and Europe.

Under the strict policy, even "mom-and-pop" stores can hardly qualify, said Zhao.

"I'm not sure whether the tax deduction measures will benefit us directly, as taxes for different products exported to different regions all vary. It has yet to be explained in detail in the government directive," said Jiang Kexing, manager of Zhejiang Hongxu Trading Co Ltd in Yiwu, Zhejiang province.

Under the new rules, which will be effective from 1 Sept, a forex payment or settlement transaction in the services trade that is equivalent to USD 50,000 or less can proceed without having to verify its transaction documents, the SAFE said in an online statement.

The simplified procedure is expected to benefit about 88 percent of China's services-trade-related forex transactions, according to SAFE data.

Other measures unveiled on Wednesday include those to allow services trade forex transactions to be handled directly at financial institutions and to permit companies in the services trade to deposit their foreign currency earnings overseas.

While loosening controls, the SAFE also vowed to ramp up supervision of the services trade forex flowing into and out of the country in order to prevent risks.

China has been emphasizing the service sector's role in lifting growth and creating jobs amid the country's recent economic slowdown.

The service sector accounted for roughly 44.6 percent of China's GDP in 2012, and policymakers aim to raise that to 47 percent by 2015.

]]>frontpageThu, 25 Jul 2013 02:27:26 +0000Businessmen heading back home to Wenzhouhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6714:businessmen-heading-back-home-to-wenzhou&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6714:businessmen-heading-back-home-to-wenzhou&catid=26:china-finance&Itemid=65China's hub of private industry sees the return of an increasing number of merchants to their hometown from overseas, many from Europe, reports Yu Ran in Wenzhou, Zhejiang.

Some people who left Wenzhou years ago are now coming back with capital and new ideas.

As the global economy remains sluggish, the government of Wenzhou has been trying to build platforms for overseas businessmen, and more and more native Wenzhou entrepreneurs are now eyeing their hometown for business opportunities.

The coastal city has been well known for its entrepreneurs over the past three decades.

Sixteen years ago, the then 41-year-old Chen Zhiyuan left his hometown - Wenzhou - for Dubai with nearly 1 million yuan ($160,000) in debt after suffering huge losses at his trading company.

"I chose to get out of the country at the nadir of my career. I was trying to prove that Wenzhou businessmen are not afraid to face difficulties," said Chen, who flew back to Wenzhou in 2011 after he made a fortune in Dubai.

Chen, the former president of the Wenzhou chamber of commerce in Dubai, was the founder of three major China-oriented markets selling all sorts of Chinese products there, with an annual sales revenue of over $1 billion.

"As a Chinese businessman, I had the advantage of getting products from factories directly in a shorter period of time than my competitors and with lower prices. I saw the great potential of the popular Chinese products," said Chen, who was a wholesaler of cheap Chinese products for the first three years.

He opened the first Chinatown mall in 2000 in Dubai, with hundreds of shops and run by Chinese merchants, mostly from Wenzhou. In the next decade, he launched two other small malls to unite Wenzhou businessmen because he believed that solidarity has always been a tradition of Wenzhou merchants.

After the recent financial crisis hit Europe and the United States, Chen realized that it could be the right time to return to his hometown with the money and experience and ready for new challenges.

"I've seen great changes in Wenzhou, which achieved booming economic development before 2010, which then slowed with the credit crisis in 2011, and I wanted to make a contribution to save the city," said Chen.

The second phase of the Zhannan Trade Mart was one of the projects where Chen invested in February. The total investment is valued at about 1.5 billion yuan ($242.84 million), and the project covers an area of 4.33 hectares with a construction area of 151,774 square meters.

"I want to bring the concept of high-end marketing to Wenzhou by introducing a variety of design items to the city from all over the world and building a global trading platform here," said Chen.

The project was launched in June and the first phase is expected to be finished by October. It already attracted 80 percent of the investment needed for its completion.

"I would like to put money into similar projects planned by the city government to reboot Wenzhou's economy as soon as possible," said Chen.

Chen added that he had returned for better opportunities, especially in the commercial property and financial sectors, which will be the major focus in the near future.

]]>frontpageWed, 24 Jul 2013 03:07:45 +0000Employment outlook weakens for H2http://businesstianjin.com/index.php?option=com_content&view=article&id=6707:employment-outlook-weakens-for-h2&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6707:employment-outlook-weakens-for-h2&catid=26:china-finance&Itemid=65Chinese employers' hiring intentions will weaken in the second half of 2013 but the employment rate is not a problem yet in China, human resources agencies said.

"China's net employment outlook slipped to its weakest level since the first quarter of 2010 after employer hiring plans fell in all industry sectors and all regions," Manpower Group, a global workforce provider, said in its employment outlook survey for the third quarter of 2013.

The Chinese mainland's net employment outlook is 12 percent in the third quarter of 2013, declining by 5 percentage points compared with the same period of 2012, Manpower said in its report.

Statistics from the survey show that 14 percent of the employers expect to increase payrolls in the third quarter, 2 percent anticipate a decrease and 45 percent forecast no change.

Zhaopin.com, one of China's largest providers of human resource services, said recruitment growth in the first half of 2013 was 20 percent, falling by 6 percentage points compared with 2012.

The job supply is related to the country's gross domestic product growth so as China's GDP growth slows down, so does employment, experts said.

Some institutions have different opinions on China's GDP growth in the second half of the year. Nomura Securities - the most pessimistic, forecast as much as a 30 percent possibility that China's GDP growth will fall below 7 percent in the second half of the year.

However, China's employment market is still steady because the workforce supply is declining alongside falling demand.

"China's employment market will be steady in the short term because China's working-age population is also reducing," said Du Yang, a professor with the institute of population and labor economics at China Academy of Social Sciences.

]]>frontpageTue, 23 Jul 2013 03:27:20 +0000Blue economy becomes new growth enginehttp://businesstianjin.com/index.php?option=com_content&view=article&id=6701:blue-economy-becomes-new-growth-engine&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6701:blue-economy-becomes-new-growth-engine&catid=26:china-finance&Itemid=65Recent data suggest that China's first "blue economy" zone in East China's Shandong province has become a new engine for growth -- and one that grew faster than the entire provincial GDP in the first quarter.

The sector recorded a growth rate of 10.2 percent in the first quarter, exceeding the provincial average by 0.5 percent. Its total output last year hit 2.4 trillion yuan ($391 billion), accounting for one-fifth of the nation's total marine output, according to statistics from the Shandong Development and Reform Commission (NDRC).

Zhang Wufeng, director of the NDRC, said the data indicates that the province has become a pioneer in the nation's maritime strategy of developing an efficient and environmentally-friendly seaside economy.

In April 2010, the State Council, China's cabinet, approved the establishment of the Shandong Peninsula Blue Economic Zone as one of three pilot zones for the development of China's marine economy.

The economic zone covers 159,500 square km of offshore waters and 64,000 square km of land in six cities and two coastal counties.

A development plan for the economic zone was approved by the State Council in early 2011 as part of China's national development strategy. According to the plan, the Shandong provincial government will coordinate the development of its land and marine economies and strengthen exploration, especially in emerging marine industries.

In just two years since the economic zone was established, the area has encountered unprecedented growth in maritime equipment manufacturing, oceanic chemicals, fishing, transport as well as tourism.

According to Zhang, marine-related companies in coastal cities like Qingdao, Yantai and Weihai are taking advantage of the plan to expand their businesses or upgrade their services.

Founded in 1998, the Yantai-based Bohai Ferry Co Ltd, is now the nation's biggest roll-on/roll-off (RORO) transportation enterprise, and it has revitalized itself by riding the wave of the "blue economy."

]]>frontpageMon, 22 Jul 2013 07:43:33 +0000ADB economist 'optimistic' on China economyhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6694:adb-economist-optimistic-on-china-economy&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6694:adb-economist-optimistic-on-china-economy&catid=26:china-finance&Itemid=65Zhuang Juzhong, deputy chief economist of Manila-based Asian Development Bank (ADB), said he was quite optimistic about the Chinese economy, though its growth in the first half was weaker than expected, adding that he believed the Chinese economy can achieve a soft landing in the future.

In an interview with Xinhua, Zhuang said that judging by the data, the unexpected growth in the first half of 2013 was due to weaker growth of exports, domestic investment, and domestic consumption.

"While export growth has slowed significantly, growth of domestic demand has not been strong enough to fill in the gap, causing GDP growth to slow down," he said.

China's gross domestic product growth slowed to 7.5 percent in the second quarter of 2013, down from 7.7 percent during the first quarter, official data showed earlier this week. Growth in the first half of the year stood at 7.6 percent, which was above the government's full-year target of 7.5 percent.

Zhuang said he agreed with the Chinese government that the overall economy realized steady development in the period and the slower but moderate pace was the result by the voluntary efforts made by the government.

During the global financial crisis in 2008, the Chinese government came up with a 4 trillion yuan fiscal stimulus package in response to the weak domestic and overseas demand, Zhuang said, however, facing similar situation this year, "the (Chinese) government has not done the same. I believe this shows the government's intention to focus more on quality, rather than quantity of growth."

According to Zhuang, due to the weaker than expected growth, as well as the elevated funding costs in China, ADB trimmed Chinese economic growth projection for 2013 to 7.7 percent in the Asian Development Outlook 2013 Supplement released on Tuesday.

Although the figure is "lower than the double-digit growth China achieved in the recent past, it is still healthy and quite robust, especially in comparison with the rest of the world," he said.

As economy becomes more developed and per capita income level rises, economic growth is likely to gradually slow down, which is a quite normal phenomenon, said Zhuang.

]]>frontpageFri, 19 Jul 2013 03:55:06 +0000HK ready to benefit from global economic gravity shifthttp://businesstianjin.com/index.php?option=com_content&view=article&id=6688:hk-ready-to-benefit-from-global-economic-gravity-shift&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6688:hk-ready-to-benefit-from-global-economic-gravity-shift&catid=26:china-finance&Itemid=65Hong Kong is in a "strong position" to take advantage of the shifting center of global economic gravity from the West to the East, the city's Chief Executive C Y Leung said Wednesday.

Addressing a luncheon held by the Hong Kong Association of Banks, Leung said despite the global financial crisis, Hong Kong's banking sector continues to be the driving force in deepening, expanding and diversifying financial services in the city.

He said the accumulation of wealth and foreign exchange reserve on the Chinese mainland and in Asia has generated strong demand for world-class financial services.

"Serving as China's global financial center at a time of such profound change and progress, represent a historic responsibility and a huge opportunity for Hong Kong," Leung said.

He said under a strong regulatory framework and transparent supervision, the city's banking sector is well capitalized, liquid and profitable, adding that the interbank money market has well established and the size of private banking system is also on the rise.

According to the data, Hong Kong's financial services industry currently employs around 230,000 people, or 6 percent of the total workforce, having contributed 16 percent of the city's total GDP.

Leung said the Hong Kong government regards the promotion of the economic development as the top priority, and only through sustained and relatively high economic growth can Hong Kong move to the next level of development, and become more resilient to external financial shocks or economic challenges.

]]>frontpageThu, 18 Jul 2013 08:23:57 +0000Brands face constant battle to attract, keep customers http://businesstianjin.com/index.php?option=com_content&view=article&id=6682:brands-face-constant-battle-to-attract-keep-customers-&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6682:brands-face-constant-battle-to-attract-keep-customers-&catid=26:china-finance&Itemid=65Building a big brand in China requires attracting and recruiting as many shoppers as possible, according to a new report that has found brand penetration is the driver of market share in the country.

Although shopper loyalty is important in certain consumer goods categories, including infant formula and baby diapers, market penetration - defined as the number of customers who buy a specific brand at least once a year - is the most important driver of market share, according to China Shopper 2013, jointly released by Bain & Co management consultants and Kantar Worldpanel consumer researchers.

The report on the purchasing behavior of Chinese shoppers is the second collaboration by Bain and Kantar, which collected data from 40,000 shoppers in nearly 2,000 cities across China who were each provided with a scanner.

Bruno Lannes, head of Bain's consumer products practice in China and co-author of the report, said the leading brand's penetration is about three to 10 times greater than the penetration of the average 20 brands in one category.

For the leading and the top 20 brands in the same categories, the difference in penetration rates is significantly larger than the difference in purchase frequency and repurchase rate, according to the report.

The report has discovered that low frequency shoppers - representing about 60 to 70 percent of any brand's shopper base and accounting for 20 to 55 percent of its revenues - are critical to any brand's revenues.

Brands with higher penetration rates also tend to have higher purchase frequency and repurchase rates, the report found.

"What may look like a niche brand is simply a small brand," Lannes said.

"It is not possible to create big brands by targeting and selling to only a few shoppers, with the hope they will become heavy or loyal buyers. Shoppers don't behave this way. To build a big brand in China, you need to sell to as many shoppers as possible," he added.

The report also found that while penetration is the key to building a strong brand, shopper bases don't stand still and shopper churn can be significant.

The shopper base of any brand is not stable, regardless of the size of brand, said Lannes, adding: "Penetration is paramount but it is also a leaky bucket."

Therefore, for a brand to grow, it needs to recruit new shoppers every year to compensate for those who leave, emphasizing even more the importance of penetration.

Given that shoppers have a very low engagement with brands, the report recommends that consumer goods companies invest in recruiting more customers each time they go shopping.

"For China, we believe that the highest value shopper research should focus on non-shoppers rather than existing shoppers," said Jason Yu of Kantar Worldpanel.

"Brand growth in China will need to come from share gains," said Lannes.

Hermann Ng, chief executive officer of Retail Nation, a consultancy firm based in Shanghai, said most Chinese people love shopping randomly rather than with a purpose, inspiring brands to expand their market presence to lure more shoppers.

He said Chinese shoppers are less sensitive to brands but more so to price and quality. So efficient coverage of a brand will encourage more shoppers to reach its products.

]]>frontpageWed, 17 Jul 2013 04:00:14 +0000Investment falters as industrial activity flagshttp://businesstianjin.com/index.php?option=com_content&view=article&id=6677:investment-falters-as-industrial-activity-flags&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6677:investment-falters-as-industrial-activity-flags&catid=26:china-finance&Itemid=65China's investment growth decelerated further in the second quarter amid flagging industrial activity, and it may remain at a low ebb, economists said, as a massive stimulus is not on the cards.

The growth rate was 0.8 percentage point slower than in the first quarter and 0.3 point slower than a year earlier, the NBS said.

First-half investment in central regions grew the fastest, by 23.6 percent, followed by 22.7 percent in the west and 18.7 percent in the east. Investment growth has been slowing since it stood at 21.1 percent in the first two months of the year.

"Investment in the manufacturing sector, which accounts for about 40 percent of total investment growth, has already tumbled to the lowest in a decade," said Lu Zhengwei, chief economist with Industrial Bank Co Ltd.

According to Monday's data, investment in the industrial sector hit 7.8 trillion yuan in the first half, up 15.6 percent from a year earlier. Investment in primary industry and the service sector grew 33.5 percent and 23.5 percent, respectively.

The figures were in line with conditions measured by the HSBC Purchasing Managers' Index, which contracted in May and June. The June reading of 48.2 was the lowest in the past nine months.

Decelerating investment growth partly reflected a continued slowdown of economic expansion, which eased to 7.6 percent in the first half from 7.7 percent in the first quarter.

]]>frontpageTue, 16 Jul 2013 05:23:21 +0000Commodity suppliers hurt by China demandhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6664:commodity-suppliers-hurt-by-china-demand&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6664:commodity-suppliers-hurt-by-china-demand&catid=26:china-finance&Itemid=65China's slowing commodity imports have been hurting major world commodity suppliers, and the situation won't improve in the second half, experts said on Thursday.

The nation's commodity purchases have been affected by weak overseas demand for its exports and a domestic growth slowdown.

"China's shrinking demand for commodities surely dented the economic growth of major commodity suppliers, and the negative impact will worsen as Chinese economic growth will not see much improvement in the second half of this year, said He Rongliang, an analyst with the Distribution Productivity Promotion Center of China Commerce.

"Imports of natural resources and energy products will not go up significantly," he said.

He added that the demand reduction in China, a leading global buyer of commodities such as iron ore, copper, crude oil and soybeans, could not be offset by any other single economy.

The economic growth of resource exporters has become closely linked to China's economic performance, especially in recent years, said Zhang Jianping, a researcher at the Institute for International Economic Research under the National Development Reform Commission.

Leading commodity exporters such as Brazil, South Africa and Australia will feel the most significant impact from China's shrinking commodity demand, said Wang Haifeng, a researcher from the Institute for International Economic Research under the NDRC.

Australian Prime Minister Kevin Rudd said on Thursday: "In 2013, the China resources boom is over. While exports of resources and commodity volumes are up, the prices we receive for them have now fallen almost 25 percent since their peak and may well fall further.

"Right now, we find ourselves at a crossover point for our national economy. If we make the wrong decisions now, we will be living with those decisions for the decade ahead."

China launched a CNY 4-trillion (USD 652 billion) emergency stimulus package in the wake of the financial crisis, which boosted infrastructure construction and the import of natural resources and raw materials.

But the new leadership is shifting economic growth away from an investment- and export-driven model to a consumption-oriented pattern, despite sliding growth.

China's imports in June declined 0.7 percent from a year earlier after a 0.3-percent contraction in May, according to the General Administration of Customs.

Crude oil imports by the nation, which is the world's second-largest oil consumer, fell 1.4 percent year-on-year to 140 million metric tons in the first half, while the average import price dropped 7.6 percent.

Net crude purchases in June declined to the lowest level in three months as import-processing refineries carried out maintenance in June and July.

Copper imports plunged 20 percent year-on-year in the first half, with the average import price down 3.4 percent.

Although iron ore imports rose 5.1 percent year-on-year in the first half, the average import price fell 4.6 percent.

"Meanwhile, overcapacity in industries including steel, cement, shipbuilding as well as the photovoltaic industry reduced the profitability of enterprises and demand for raw materials."

The average price of imported commodities fell 3.9 percent year-on-year in June, marking the 15th month of decline, according to the customs agency.

In its latest World Economic Outlook released on Tuesday, the International Monetary Fund cut its forecast for China's economic growth this year to 7.8 percent from 8.1 percent.

It also downgraded its GDP forecast for 2014 to 7.7 percent from 8.3 percent. It added that the outlook for many commodity exporters has also deteriorated because of lower commodity prices.

"The weak recovery in the global economy was also responsible for China's shrinking demand for commodities, as many such imports are used for making manufactured exports to developed economies," Zhang from the NDRC research institute said.

According to the bank, the two Internet companies received official approval on July 6. Both companies were granted a five-year permission to conduct Internet payment businesses. Sina, which operates the twitter-like micro-blogging service Weibo, also got the nod to run a mobile phone payment business.

It means all major Chinese Internet companies, including Alibaba Group Holding Ltd and Tencent Holdings Ltd, have obtained third party payment licenses. Alipay, the online payment arm of Alibaba, together with Tencent's Tenpay, were among the first companies to receive licenses from the People's Bank of China - in May 2011.

The reasons why Baidu and Sina are latecomers in the online payment industry, even lagging far behind some Chinese telecom companies, is because their online payment branches are weak and didn't receive much attention from their management, said Zhang Meng, an analyst with Beijing-based research firm Analysys International.

"Baidu's and Sina's application for online payment licenses have more strategic significance than immediate practical meaning for the two," Zhang said.

Sina started to explore the Internet payment business in 2011. It launched the online payment tool SinaPay that year and upgraded the service into WeiboPay (micro-blogging wallet) in 2012. Every Weibo user automatically has a WeiboPay account. Sina said it hopes to provide a more convenient way for micro-blogging users to conduct transactions online and developers to charge users for products and services.

Sina Weibo introduced Alibaba as a stakeholder in May to act as a bridge for Sina to make use of the Alipay service. Analysts said it's safer for Sina to have its own payment tool as it's important to keep transaction data in Sina's own realm.

"An online payment service will prompt Sina Weibo's commercialization process," Zhang said. Previously, Sina had made some attempts to generate money from its Weibo platform. It cooperated with mobile phone manufacturer Xiaomi Corp to sell Xiaomi smartphones through WeiboPay last year. However, some shoppers complained after WeiboPay was paralyzed for a while through excessive use.

Baidu started investigating an online payment service as early as 2008 but the company's enthusiasm for it cooled alongside the fall of its e-commerce business Baidu Youa.

Alibaba's Alipay still dominates the Chinese Internet payment market. According to a report issued by Analysys International, Alipay had a 46.3 percent share of the online payment market in the first quarter of 2013, followed by Tencent's Tenpay, with 20.3 percent.

Alipay had a total of 800 million registered accounts by the end of April. Tenpay said it had 200 million registered users by the end of last year.

]]>frontpageThu, 11 Jul 2013 02:59:29 +0000China export down 3.1% in June http://businesstianjin.com/index.php?option=com_content&view=article&id=6652:china-export-down-31-in-june-&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6652:china-export-down-31-in-june-&catid=26:china-finance&Itemid=65China's exports took a surprising tumble in June, putting pressure on the growth of the world's second-largest economy.

Exports dropped 3.1 percent in June from a year earlier, while imports went down 0.7 percent, the General Administration of Customs (GAC) said on Wednesday.

Exports stood at $174.32 billion and imports totalled $147.19 billion, with a trade surplus of $27.13 billion for the month.

Total foreign trade shrank 2 percent year on year to $321.51 billion in June.

Foreign trade neared $2 trillion in the first half of the year, up 8.6 percent year on year, with exports at $1.05 trillion, up 10.4 percent, and imports at $944.87 billion, up 6.7 percent.

China's foreign trade growth rate has been slowing down in the first half of the year, as it grew 13.5 percent in the first quarter year on year and 4.3 percent in the second quarter, but just 0.3 percent in May and 2 percent in June, said GAC spokesman Zheng Yuesheng.

Zheng attributed the slump in the second quarter mainly to weak global demand, rising foreign exchange and labor costs, and various trade frictions.

China's foreign trade will face more challenges and difficulties in the second half of the year, and the ultimate solution would be to transform growth patterns and restructure commodities, Zheng said.

]]>frontpageWed, 10 Jul 2013 07:05:01 +0000The rise and shine of China's e-commerce sectorhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6633:the-rise-and-shine-of-chinas-e-commerce&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6633:the-rise-and-shine-of-chinas-e-commerce&catid=26:china-finance&Itemid=65China's National Development and Reform Commission (NDRC), the Ministry of Finance (MOF) and 11 other departments recently released the Circular on Further Promoting the Sound and Rapid Development of E-Commerce. The measures outlined in the Circular are designed to ensure the continued development of the nation's e-commerce sector, one which reached 8.1 trillion RMB in 2012, up a significant 31.7 percent from 2011.

The proposed actions comprise a mix of initiatives to improve infrastructure, enhance processes, develop standards and target e-commerce growth and its development in specific key industries.

]]>frontpageFri, 05 Jul 2013 05:26:58 +0000High-tech park rethinks futurehttp://businesstianjin.com/index.php?option=com_content&view=article&id=6615:high-tech-park-rethinks-future&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6615:high-tech-park-rethinks-future&catid=26:china-finance&Itemid=65As a technology and innovation hub, Zhongguancun is a household name in China. But as the worldwide technology revolution is invigorating the 105 national high-technology parks and an even larger number of new, lower-level parks, the one-time bellwether is rethinking its strategy.

At a recent gathering of high-technology parks nationwide, representatives of most parks boasted about how many companies they had and the level of annual corporate revenues. The report submitted by Haidian Science Park, the core area of Zhongguancun, was one of the few that took a serious look at the prospects for science parks.

This is not because the growth of the park has stagnated. On the contrary, the business is growing robustly.

In 2012, more than 10,000 hi-tech companies generated revenues of 1 trillion yuan ($160.6 billion) from January to November, up 20 percent over the previous year. But the governors of the park have a sense of crisis.

"I think we have to rethink a series of basic concepts that were taken for granted. For example, what is a corporation? How about using Web 2.0 to build better next-generation government services?" said Zhang Xiuying, deputy director of the administrative

committee of HSP.

]]>frontpageThu, 04 Jul 2013 03:03:21 +0000Mobile payment changing methods of consumptionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6609:mobile-payment-changing-ways-of-consumption&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6609:mobile-payment-changing-ways-of-consumption&catid=26:china-finance&Itemid=65Smartphones have taken on an essential role in modern life these days. Their functions and uses continue to see innovation after innovation. Banks and telecom companies are now teaming up to promote a new technology called Near Field Communication, or NFC across China. This new technology aims to bring more convenience to the daily lives of everyday consumers.

The same supermarket, the different shopping experience. Shanghai resident Wang Xiaojie is paying her grocery shopping not with cash or card, but her smartphone.

Wang Xiaojie, Shanghai resident, said, "It is very convenient and fast, no need for password or signature. If I use cash or card, I have to bring many coins or enter the password then sign it, which takes quite a while."

The technology she is using is called NFC, the near field communication. The theory is to implant a bankcard into the SIM card. When the customer swipes the phone, the POS machine can read its information and process the payment. There are already 1.3 million POS machines with Quickpass logo installed in supermarkets, convenience stores, and restaurants nationwide.

Li Gang, Shanghai resident, said, "My mobile has the NFC function, so I can just swipe my phone and get in the car park. I had to prepare the small notes for parking before, and it was troublesome."

Several big banks, including Bank of China, China Merchants Bank and the Shanghai Pudong Development Bank, have started working with mobile companies to promote this e-wallet business.

Smartphones have made people's lives much easier with various functions and apps, and the security of personal information is always a top priority. Mobile banking with this near field communication technology is not exceptional.

Chai Hongfeng, Vice CEO of China Union Pay, said, "If you lose your phone, you can call the mobile company. And banks will work with them to lock the phone, preventing others accessing it to spend your money."

Customer can top up maximum 1000 yuan in the account. And the banks hope this technology will be promoted more widely in public transport, stores and coffee shops and change people's way of consuming.

]]>frontpageWed, 03 Jul 2013 03:26:14 +0000China plugs into Indonesian phone marthttp://businesstianjin.com/index.php?option=com_content&view=article&id=6603:china-plugs-into-indonesian-phone-mart&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6603:china-plugs-into-indonesian-phone-mart&catid=26:china-finance&Itemid=65Chinese companies are aggressively pushing for a bigger share in ASEAN's biggest communications market as it will have its dynamics swayed by new laws and the outcome of national elections set for 2014, reports Sudeshna Sarkar.

The town of Ubud in Bali may look like a sleepy idyll with its green, endless rice fields, emerald hills and the sacred monkey forest where lucky visitors may chance upon a chattering crab-eating macaque, but its entrepreneurs don't let grass grow under their feet.

By 10 am, Yasmin Robles has drawn up the shutters at Namus Ubud - her ice cream parlor, pizza place, coffee shop and, on bad weather days, a retreat from the scorching sun or pouring rain - ready for business. She has proclaimed the day's menu on her company's

Facebook page for patrons to view and decide if they want to drop in for lunch.

"I use (Namus Ubud's) Facebook page to stay connected with my customers from other cities and abroad," the 38-year-old said. "And to inform local customers about my special products, events in Ubud, and sometimes, some words of wisdom."

She is not the only one to turn to social media to drive business. This land of 248 million people, the fourth most populated in the world, is also the second-largest user of Facebook and the fourth-largest user of Twitter.

By 2017, forecasts say mobile phone penetration will hit 173.5 percent with nearly 444.8 million subscribers in Indonesia, making it one of the largest markets in the Association of Southeast Asian Nations for mobile phone makers and equipment suppliers.

And Chinese companies are already present in Indonesia as "aggressive" sellers of information and communications technology products, vending to both fixed-line and cellular phone operators, said Juni Soehardjo, director, telecommunication, IT and media sector, at the Indonesian Chamber of Commerce and Industry.

The three major mobile phone operators are Telkomsel, the biggest with more than 100 million subscribers, Indosat with over 52 million users, and XL Axiata with approximately 45-50 million subscribers.

ZTE, which entered Indonesia in 1999 and has six regional offices besides its Jakarta headquarters, has been collaborating with all three, besides Telkom, which provides fixed lines and holds a majority stake in Telkomsel, and a host of other smaller operators.

The Chinese company takes pride in its green applications, which it said reduce power consumption by 90 percent and carbon emissions by 95 percent.

In April this year, China Telecom, China's biggest fixed-line operator, signed an agreement with Indonesian wireless-based services provider Smartfren Telecom to offer three months' network consulting services at Smartfren headquarters.

As part of the standard overseas expansion procedure, Chinese lender Industrial and Commercial Bank of China has ICBC (Indonesia), which works with companies like China Telecom and China Communications Services (Indonesia) in Jakarta to further Chinese enterprises' globalization bid.

]]>frontpageTue, 02 Jul 2013 07:05:52 +0000Moody's warns on China's local government debthttp://businesstianjin.com/index.php?option=com_content&view=article&id=6552:moodys-warns-on-chinas-local-government-debt&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6552:moodys-warns-on-chinas-local-government-debt&catid=26:china-finance&Itemid=65Local government debt poses a key risk for Chinese banks, Moody's said Wednesday, the latest warning amid growing jitters of financial risks in the world's second largest economy.

The rating agency said in a report that many local government financing vehicles (LGFVs) have seen their cash flow stagnate or decline, while their debt levels have risen.

Among 388 city construction companies Moody's surveyed, only 53 percent of them have sufficient cash to cover estimated debt and interest payments in 2013 without resorting to borrowing more.

Meanwhile, the National Audit Office said on June 10 that the debt of 36 local governments had risen 12.9 percent to 3.85 trillion yuan in the two years to the end of 2012.

"The direct exposures of Chinese banks to LGFVs remain significant despite the central government's recent efforts to limit the growth of LGFV borrowing," the report said, adding that LGFV exposures accounted for 14 percent of total Chinese bank loans at the end of 2012.

While many LGFVs depend on government support to fulfill their debt obligations, local governments are now facing more challenges to cushion possible defaults.

Chinese local governments' revenue growth is slowing down, which will constrain their support capacity. Also, regulators' restriction on shadow banking and property development will also squeeze local governments' money pipelines, according to Moody's.

]]>frontpageThu, 20 Jun 2013 03:54:42 +0000Baby formula industry to consolidatehttp://businesstianjin.com/index.php?option=com_content&view=article&id=6545:baby-formula-industry-to-consolidate&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6545:baby-formula-industry-to-consolidate&catid=26:china-finance&Itemid=65About a third of the country's baby formula businesses will be axed, in what experts are calling a major consolidation of the industry.

The government has been trying to revive the industry since the 2008 melamine scandal, but consumer confidence is still lacking.

The move is part of a campaign to scrutinize dairy businesses in the next three months to improve the quality of milk powder products and boost confidence in the industry, the Ministry of Industry and Information Technology announced in Beijing on Tuesday.

"Of the 127 licensed dairy businesses that produce baby formula products, 25 to 35 percent will be cut. They are not necessarily unqualified, but the country needs more powerful alliances," Zhuang Pei, deputy director of the metropolitan industry division of the Shanghai Municipal Commission of Economy and Information, said on Tuesday.

Only 30 of the licensed producers are active in the market and have a stable sales volume, he added.

Industry insiders said small-scale enterprises, especially private ones, are likely to be eliminated by the regulation, and more mergers and acquisitions led by domestic giants are expected.

"The quality and safety of dairy products has notably improved in recent years, but they still require further improvements to make local brands more competitive," said Zhu Hongren, chief engineer of the Ministry of Industry and Information Technology.

Song Kungang, secretary-general of the China Dairy Industry Association, said more than 60,000 tons of liquid milk for babies were imported in the first four months of the year, a year-on-year rise of more than 164 percent, and a total of nearly 600,000 tons of dairy products were imported, an increase of nearly 25 percent from last year.

Sales in the domestic dairy industry slumped in 2008 when a scandal broke out over baby formula that was tainted with melamine, an industrial compound that can cause kidney ailments but was added to milk to make it appear to have a higher protein content. Six children died from drinking the milk, and at least 300,000 others became ill.

In the next two years, China's quality watchdogs carried out a tough battle to clean up the sector, which saw the closure of nearly 70 baby formula producers.

In addition to the requirement that every batch of raw milk be tested for melamine after the scandal, the government also demanded quality supervisors stationed at factories to oversee the whole process from raw materials to end product.

The baby formula businesses also made huge investments to ensure and improve product quality, according to insiders.

Chenguan, one of the four dairy businesses that specialize in baby formula production in Shanghai, said in addition to the 64 items that are required to be tested, it tests more than 20 other items, such as the level of lutein.

"The national standard says the tested amount of melamine in baby formula should not exceed 1 mg per kg, while our ceiling is 0.01 mg per kg," said Sun Jing, brand manager of Shanghai Chenguan Dairy Co Ltd.

Each of the businesses have established credit and traceability systems, said Gu Zhenhua, deputy director of Shanghai Municipal Food Safety Commission Office.

"According to official test reports, dairy products in Shanghai, especially baby formula, are 100 percent reliable, but consumers don't think this way. One of the popular goods residents buy from overseas is baby formula," he said.

Due to excessive consumption, on March 1 Hong Kong put a regulation in place, limiting the amount of baby formula people from the Chinese mainland can carry when they depart to two cans.

One way to narrow the gap between the government's guarantee and the reaction from society is to further improve information disclosure, Gu said.

"If consumers buy a product and they can check its test reports online, they'll feel more reassured," he said. "We're urging businesses to display the test results of every batch of product on their websites."

This will lead to overall spending in the sector growing by 8 percent annually in the next five years, with spending in the film industry growing by 15 percent, the professional service company said in its Global Entertainment and Media Outlook 2013-17.

Fast-expanding spending on entertainment and media will make the country the third largest in the sector by 2017 - up from fifth place in 2012 - surpassing the United Kingdom in 2013 and Germany in 2016, according to the report, which will be released on Wednesday.

An ambitious cinema building program is driving the box-office boom - each day nine new screens open on the Chinese mainland. The number of screens on the mainland has increased 10-fold in the past 10 years, from fewer than 1,300 in 2002 to more than 13,100 at the end of 2012.

"Although 25,000 new screens are planned over the next five years, the opportunity for further growth is still considerable," said Jane Kong, PwC China entertainment and media practice partner.

The report also forecasts strong growth elsewhere in the entertainment and media industry, such as in music, video games and advertising. Music market, worth $653 million in 2012, is forecast to grow by 8 percent a year to reach $960 million in 2017.

]]>frontpageWed, 05 Jun 2013 03:02:53 +0000Polycom to target medical market in Chinahttp://businesstianjin.com/index.php?option=com_content&view=article&id=6362:polycom-to-target-medical-market-in-china&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6362:polycom-to-target-medical-market-in-china&catid=26:china-finance&Itemid=65Polycom Inc, the US-based unified communications provider, says it is expanding its investment in China to target mainly the medical market, a major user of its services.

Andy Miller, the company's CEO, said remote medical services are expected to continue to be a huge growth market in China.

Unified communications involves integrating various types of communications system, to optimize business processes, such as video conferencing and video services.

"The development of video conferencing technology has penetrated into people's everyday lives and the medical field is definitely one of the most significant driving forces," Miller said.

Polycom's RealPresence mobile service enables video conferencing on mobile devices using IOS and Android systems, and was highly effective recently when it allowed communication between medical staff and a seven-year-old child who was infected with H7N9 bird flu.

Chinese manufacturers Huawei Technologies and ZTE Corp, as well as a number of startups, are also targeting the Chinese video-conferencing market, including the medical services sector. More companies, including many small and medium-sized enterprises, are opting to install such systems to save on travel costs.

International Data Corporation, the market intelligence service which specializes in technology and communications sectors, recently predicted the Chinese unified communications and collaboration market will grow 20 percent annually over the next five years, and will be worth $2.53 billion by 2017.

It called video conferencing one of the most significant driving forces of the unified communications sector.

A separate report by Forrester Research Inc, the independent business and technology research company, claimed that video conferencing and face-to-face video collaboration significantly increase productivity and efficiency, and lower costs.

Polycom now claims more than 51 percent of China's video-conferencing market.

The company has increased its engineering staff in China, from less than 200 in 2011 to 500 people, who are mainly involved in local product development.

]]>frontpageThu, 16 May 2013 02:45:56 +0000Visa ready for China market openinghttp://businesstianjin.com/index.php?option=com_content&view=article&id=6349:visa-ready-for-china-market-opening&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6349:visa-ready-for-china-market-opening&catid=26:china-finance&Itemid=65Visa Inc, the world's biggest card payments network, is gearing up to participate in yuan-denominated business in China, as regulators prepare to release rules facilitating foreignplayers to enter domestic market possibly as soon as July.

Jeff Liao, country manager of Visa Information Systems (Shanghai) Co Ltd, said the company is yet to apply to the central bank for any kind of RMB license.

Chinese laws require foreign credit card companies to co-brand with Chinese partners to support their card services, or to process interbank point-of-sale transactions.

New rules on how foreign players can participate in the domestic payment and clearing systemare expected to be announced at the end of July, but when they will become effective is stillunknown, according to sources familiar with the matter.

Visa has set a target that more than half of its global business will be generated from marketsother than the United States by 2015.

About 60 percent of Visa's global payments come from debit cards. And in China, growth of debit card payments is faster than that of credit cards, according to Liao.

Visa has signed cooperation agreements with 25 commercial lenders in China, and there are80 million dual-branded, dual-currency Visa cards in circulation, even without access to yuan-denominated business, Liao said.

In 2010, Visa bought CyberSource Corporation, a leading provider of electronic payment, riskmanagement, and payment security solutions that is currently registered in Shanghai.

Visa debit cards continued to account for most transactions at merchants, with a share of 39.3percent, followed by Visa credit cards with nearly 22.8 percent.

Liao added that if the domestic payment market could be opened to foreign players such as Visa, the company could bring 50 years of experience and products to the market.He used the example of V.me a new service from Visa that lets people shop without sharingtheir card account information with a seller during payments as a product which has beenlaunched in many markets, and can be used worldwide and connected with global merchants, which could be introduced to China.

Liao said Visa's expertise in online transaction security could also be used in China, such as onverification and providing security solution for online traders.

]]>frontpageTue, 14 May 2013 05:10:06 +0000UK bank cuts outlook on China's GDP gain to 7.7%http://businesstianjin.com/index.php?option=com_content&view=article&id=6345:uk-bank-cuts-outlook-on-chinas-gdp-gain-to-77&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6345:uk-bank-cuts-outlook-on-chinas-gdp-gain-to-77&catid=26:china-finance&Itemid=65Standard Chartered Bank cut its growth forecast for China's gross domestic product this year to 7.7 percent from 8.3 percent, the lender said in the latest outlook report.

The London-based lender also trimmed the outlook for GDP growth next year to 7.5 percent from 8.2 percent in its previous projection.

"The acceleration of China's 2013 economic growth is taking a little longer than we expected. A disappointing March was followed by a moderately weak April," the bank said in the report.

"We expect clearer signs of momentum to emerge in the second half of this year as housing, infrastructure and exports become more supportive."

The lender also expects China's central bank to increase interest rates in the last three months of 2013 even though inflation this year is projected at 3.2 percent, lower than the official target of 3.5 percent.

"We believe the People's Bank of China will want to and be able to hike rates once the yearly Consumer Price Index reading breaches 4 percent," the report said, adding that "we expect this to occur in the fourth quarter."

]]>frontpageMon, 13 May 2013 07:17:57 +0000Long-term urbanization plan due this yearhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6338:long-term-urbanization-plan-due-this-year&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6338:long-term-urbanization-plan-due-this-year&catid=26:china-finance&Itemid=65A development plan for the country's medium and long-term urbanization will be launched in the second half of the year, an official with the country's top planning agency said on Thursday.

The main content of the plan will be a detailed layout of Premier Li Keqiang's concept of "new-type urbanization", focusing on giving the nation's 250 million migrant workers more recognition as urban residents, said Li Tie, director-general of the China Center for Urban Development at the National Development and Reform Commission.

According to Li Tie, the plan consists of four parts, with the first being "to orderly promote a sustainable urbanization process, which will focus on building smart, ecological and low-carbon cities".

The second part of the plan is about how to speed up the reform of the half-century-old hukou household registration system.

"This also has two sub-plans. First, we will implement an open-door hukou system for eligible migrant workers, particularly for those living in small and medium-sized cities.

"Second, we will improve the residence permit system to enable migrant workers to enjoy basic public services as urban residents."

The third part of the plan includes a guideline for the reasonable development of cities of different sizes.

While giving more development opportunities to small and medium-sized cities, the guideline will encourage the gathering of capital, labor and technology in large cities.

The development plan will establish a basic framework for urbanization policies, within which there will be administrative, land and financing reforms.

"The over-expansion of some Chinese cities has resulted in a severe waste of resources, and we will head toward a high-energy and resource-consuming mode if we follow the old path," Li Tie said.

He added that urbanization will aim at lowering urban density, enhancing conservation, and increasing foreign and private investment.

]]>frontpageFri, 10 May 2013 08:18:18 +0000Yuan reference rate hits highhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6332:yuan-reference-rate-hits-high&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6332:yuan-reference-rate-hits-high&catid=26:china-finance&Itemid=65The People's Bank of China on Wednesday set the daily reference rate of the yuan against the dollar at 6.1980, the highest in 19 years since China unified the official and market exchange rates at the end of 1993.

Later, the yuan closed at 6.1410 against the dollar in Shanghai, according to the China Foreign Exchange Trade System. It touched 6.1396 earlier, the strongest level since the end of 1993.

The daily fixing of the yuan rose 1.41 percent since the beginning of the year against the dollar, as indicators show that capital flows into the world's second-largest economy accelerated in recent months.

The yuan is allowed to trade within 1 percent in each direction around the daily reference rate.

"Appreciation expectations and onshore demand for the currency still dominate the market as capital inflows continue, and the authorities are working to make the pricing of the yuan more flexible and market-oriented," said Guo Tianyong, a professor at the Central University of Finance and Economics in Beijing.

The State Council, China's cabinet, said this week it will draft an operational plan to achieve full convertibility of the yuan and establish a comprehensive system for individuals' outbound investments.

]]>frontpageThu, 09 May 2013 06:16:50 +0000Baidu to buy PPS' video unithttp://businesstianjin.com/index.php?option=com_content&view=article&id=6326:baidu-to-buy-pps-video-unit&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6326:baidu-to-buy-pps-video-unit&catid=26:china-finance&Itemid=65Baidu Inc, the largest Internet search engine in China, said on Tuesday it is buying PPStream Inc's online video business for $370 million to challenge the nation's top video services provider.

PPS will merge with iQiyi.com, a popular online video website acquired by Baidu late last year, according to a company statement. PPS will continue to operate as a sub-brand of iQiyi.

After the acquisition, iQiyi.com will become China's largest online video platform by number of mobile users and video viewing time, the statement said.

Analysts said they believe the acquisition will strengthen Baidu's video unit although iQiyi is not yet ready to challenge Youku Tudou.

]]>frontpageWed, 08 May 2013 06:32:25 +0000Brand, design remain keyhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6320:brand-design-remain-key&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6320:brand-design-remain-key&catid=26:china-finance&Itemid=65Chinese exporters are keen to develop a new competitive edge through brand-building and technological development amid grim export prospects this year.

"Export businesses are now finding life much harder than before the financial crisis of 2008," Wang Hongren, general manager of jetting machine company Zhejiang Danau Industries Ltd, told China Daily during the 113th Canton Fair.

"But the traditional advantage is vanishing owing to the rising renminbi and increasing costs for labor, wages and raw materials.

Meanwhile, orders from major markets remain sluggish."

Vice-Minister of Commerce and China International Trade Representative Zhong Shan urged exporters during the fair to build up a new competitive edge, supported by technology, branding, quality and services.

Gao said: "Building a brand is a long-term as well as costly process, but is also a step that we must take because we have no other choice for survival."

China is the world's largest exporter and second-largest importer, with expanding trade playing a significant role in its economy.

Net exports accounted for 9 percent of GDP growth in 2012, according to the General Administration of Customs, and the country's foreign trade dependence ratio - the degree of an economy's dependence on foreign trade - dropped 3.1 percentage points to 47 percent in 2012, but still outstripped the 30 percent in the US, Japan and Brazil.

The new leadership outlined an 8 percent trade growth target for 2013 after 6.2 percent growth in 2012 trailed a 10 percent target.

Feng Xuelei, sales director of Ecovacs Robotics (Suzhou) Co Ltd, said: "We are first an original equipment manufacturer for the world's top vacuum cleaner brands, but fierce competition forced us to develop our own product seven years ago - the automatic window cleaner, which we named Winbot."

The company started overseas sales three years ago and has established branches in Los Angeles and Dusseldorf. Overseas orders in the first quarter of this year rose 30 percent from a year earlier and are expected to grow 40 percent for the whole year, much higher than the 25 percent sales growth in 2012, Feng said.

]]>frontpageTue, 07 May 2013 07:33:55 +0000New markets buy big at trade fairhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6313:new-markets-buy-big-at-trade-fair&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6313:new-markets-buy-big-at-trade-fair&catid=26:china-finance&Itemid=65Buyers from emerging markets are stepping forward to pick up the slack as orders from developed nations slow.

At the just-ended Canton Fair, a biannual event seen as a barometer of China's foreign trade, orders from BRICS members India, Brazil, Russia and South Africa increased 5.2 percent year-on-year, while those from Middle Eastern countries rose 3.8 percent.

"The number of buyers from emerging markets, especially from Africa, and Australia, also increased a lot, sending a signal that demand for Chinese products in these regions is increasing," Liu Jianjun, spokesman of the Canton Fair and deputy director of the China Foreign Trade Center, said at Sunday's briefing.

"Chinese exporters should attach more importance to diversifying sales in emerging markets as there is still weak demand from traditional buyers, especially those from Europe," he said.

Officially called the China Import and Export Fair, the Canton Fair concluded on Sunday in Guangzhou. It attracted 202,000 overseas merchants, up 7 percent from the fall session.

Transactions reached $35.54 billion, up 8.8 percent from the last session, but still down 1.4 percent from the spring session last year, organizers reported on Sunday.

Transactions were down 4.9 percent with Europe, 0.5 percent with the United States and 12.6 percent with Japan year-on-year, as the number of visitors from these areas decreased, the official said.

Transactions with ASEAN members also suffered a decline, down 6.5 percent year-on-year.

The outlook for Chinese exports is still uncertain, the official said, as exporters face problems ranging from higher costs, a rising yuan, tight credit and sluggish demand from traditional markets.

Emerging markets account for 20 percent of China's overall trade while the share of developed markets — the US, EU and Japan — shrank 2.1 percentage points in 2012 from a year earlier, the spokesman said.

Under the global economic downturn, foreign buyers took a "very cautious approach" when dealing with Chinese exporters, he admitted.

"Emerging markets brought about the fastest export growth in recent years and the pace accelerated in the first quarter as we strategically increased the sales of our own brands in these markets," said Wang Yuechun, managing director of the overseas strategy and development department of Sichuan Changhong Electric.

"Russia is the most promising one among the emerging markets followed by Southeast Asia and Africa, and exports to Russia will maintain fast growth," Wang said.

]]>frontpageMon, 06 May 2013 06:40:15 +0000BYD makes history with California bus factoryhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6306:byd-makes-history-with-california-bus-factory&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6306:byd-makes-history-with-california-bus-factory&catid=26:china-finance&Itemid=65BYD Co on Wednesday became the first company from China to announce it will produce vehicles in the United States. It plans to build as many as 1,000 plug-in electric buses a year at a refurbished recreational-vehicle factory in the Mojave Desert city of Lancaster.

"We truly are making history," Lancaster Mayor R. Rex Parris said. "Our community looks forward to working hand in hand with BYD as they develop and perfect their e-bus and energy-storage technology."

He said the manufacturing could potentially provide hundreds of jobs as BYD expands operations in the US and represents "a significant investment into our local economy and in California".

At a news conference outside the new plant, BYD Motors President Stella Li said the first of 10 zero-pollution vehicles has already been ordered by the city of Long Beach and is expected to roll off the assembly line in 2014.

She said BYD Motors expects to produce 50 buses a year by 2015 and to continue increasing production, with the intention of reaching the plant's capacity of 1,000 buses annually within two decades.

The buses will be powered by BYD's iron-phosphate batteries, which will be manufactured at another plant near the Lancaster bus factory.

In April, the Chinese company won a $12.1 million contract from the Long Beach transit authority to produce the 10 all-electric buses.

In Lancaster, BYD purchased a former Rexhall Industries RV factory for its electric-bus manufacturing operations. Rexhall CEO William Rex will stay on as general manager of the newly formed BYD Coach and Bus LLC.A number of Rexhall employees will be maintained as the plant shifts to new ownership.

]]>frontpageFri, 03 May 2013 03:11:40 +0000Flights between China, Canada surgehttp://businesstianjin.com/index.php?option=com_content&view=article&id=6292:flights-between-china-canada-surge&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6292:flights-between-china-canada-surge&catid=26:china-finance&Itemid=65The number of flights between China and Canada increased about 30 percent this year compared with the previous year on strong tourism demands, an industry insider said Wednesday.

Flights between the two countries each week has grown to 75 at present from 58 last year due to rising demands from the Chinese market, said Derek Galpin, chief representative of Canadian Tourism Commission (CTC).

"China has become Canada's fastest-growing source of tourists," Galpin said.

In 2012, the number of Chinese tourists to Canada rose 18.3 percent from a year earlier to 288,279. The CTC forecast the number will grow by 15 to 20 percent this year.

]]>frontpageThu, 02 May 2013 05:37:37 +0000Chinese automaker hoping for revivalhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6281:chinese-automaker-hoping-for-revival&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6281:chinese-automaker-hoping-for-revival&catid=26:china-finance&Itemid=65A new version of an automobile produced by a Chinese carmaker was used to receive French President Francois Hollande during his recent visit to China, prompting some to wonder if the vehicle will see revived popularity.

The limousine used to pick Hollande up was a Hongqi, a vehicle model produced by FAW Car Co., Ltd., a subsidiary of the FAW Group, a leading Chinese automaker.

The Hongqi was first manufactured in 1958, making its public debut on October 1, 1959 at a ceremony in Beijing to mark the 10th anniversary of the founding of the People's Republic of China.

Since then, the car has often been used to transport foreign leaders during visits. The limousine taken by Hollande, a Hongqi L5, is an upgraded version of the vehicle.

Jia Xinguang, an independent auto industry analyst, said the vehicle's design and technology convey a sense of safety and dignity, as well as embody China's national image.

"The car is qualified as a top-level transportation vehicle for state guests," he said.

Production of the vehicles was suspended in the early 1980s, partly because of its relatively high fuel consumption.

In 1989, the FAW Group resumed production of the Hongqi and aimed to make it more fuel-efficient.

In 2008, the company kicked off a "Hongqi revival" program, aiming to make the vehicle more popular in the commercial sector, as well as among government departments looking to procure vehicles. Three years later, a C-class Hongqi featuring a variety of engine sizes rolled off the assembly lines.

Industry observers say the vehicle's recent re-emergence might encourage the government to purchase more Chinese cars.

China has been the world's largest auto market since 2009, with auto sales in 2012 rising to an all-time high of 19.3 million vehicles.

However, the market is currently dominated by foreign brands, which have established a foothold by setting up joint ventures with local automakers, churning out a large variety of cars mainly targeting the high-end market.

"In the short-term, it remains hard for Chinese cars to compete head-on with foreign rivals," said Sun Zhipeng, director of the Economic Institute at the Jilin Provincial Academy of Social Science.

Dong Yang, secretary-general of the China Association of Automobile Manufacturers, said government purchases, which account for no more than 10 percent of the country's total auto sales, will not give much of a boost to domestic car companies.

"However, their impact on boosting the domestic car market indirectly should not be underestimated," Dong said.

]]>frontpageSun, 28 Apr 2013 07:55:47 +0000France leads eurozone in offshore RMB paymentshttp://businesstianjin.com/index.php?option=com_content&view=article&id=6274:france-leads-eurozone-in-offshore-rmb-payments&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6274:france-leads-eurozone-in-offshore-rmb-payments&catid=26:china-finance&Itemid=65France now holds the leading position in euro countries for exchanging RMB payments, after recording a 249 percent growth in the value of payments since March 2012.

According to the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, last month 21.4 percent of the payments made between China and France were denominated in yuan, against only 6.5 percent a year ago.

SWIFT said 95 percent of RMB payments made were institutional transfers, with 5 percent being customer payments.

France is ranked fourth in the world in terms of the value of offshore RMB payments— excluding Hong Kong and the Chinese mainland, trailing behind the United Kingdom, Singapore and Taiwan, according to SWIFT.

"This is an interesting development as it signifies France's drive to become a leading RMB trading center in Europe," said Lisa O'Connor, RMB director at SWIFT.

French acceleration in RMB payments reflects increased competition with the UK since the Bank of England announced that it had signed a three-year currency swap agreement with China in March, she added.

"It will be interesting to see how France's work toward setting up a currency swap agreement with China progresses, and the impact that this activity may have on the RMB."

Zhao Xijun, a professor at Renmin University of China, said France's location at the heart of the continent means it is perfectly positioned to handle more customer payments than other European cities.

"Robust consumer payments have led to more institutional transfers in the currency.

"And a large proportion of trade and investment between China and Europe is related to the country, which has helped France accumulate a yuan pool."

"We will strengthen efforts to push enterprises in high-risk industries, such as mining and construction, to provide work-injury insurance for workers. Those industries are our key targets in this field," Yin Chengji, spokesman for the Ministry of Human Resources and Social Security, told a news conference.

"We have been stressing employers' responsibilities in this matter," he said.

Yin did not elaborate on any concrete measure the ministry will take to extend insurance coverage.

Current laws require companies to provide work injury insurance for employees and ensure the country's work injury insurance fund covers treatment fees and compensation to injured workers — as long as the employee's company pays for the insurance.

If the employer did not pay for the insurance, it should be responsible for all fees.

Zhao Wei, a labor expert at Beijing Normal University, said farmers who became migrant workers are major victims of work-related injuries.

A survey last year conducted by Zhao found that only 33 percent of construction workers in Beijing have signed labor contracts with employers.

"Almost all workers are covered by work-injury insurance as long as they have signed employment contracts with bosses," she said. "But we found that a majority of construction workers have no insurance coverage."

Zhao said although most employers who do not provide work-injury insurance would pay for injured workers' first aid, they do not provide compensation.

]]>frontpageFri, 26 Apr 2013 03:57:17 +0000Property loans accelerate in Chinahttp://businesstianjin.com/index.php?option=com_content&view=article&id=6258:property-loans-accelerate-in-china&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6258:property-loans-accelerate-in-china&catid=26:china-finance&Itemid=65China saw outstanding real estate loans accelerate as of the end of March from three months earlier while industrial lending slowed, official data showed Wednesday.

By the end of last month, financial institutions in China had lent 12.98 trillion yuan ($2.08 trillion) to the property sector, up 16.4 percent year-on-year, according to statistics from the People's Bank of China, the country's central bank.

The growth was 3.6 percentage points faster than that recorded at the end of last year, the PBOC said.

Of the total, outstanding loans for property development quickened for the 10th consecutive month to reach 1.04 trillion yuan as of the end of March, with a year-on-year increase of 21.4 percent.

Meanwhile, financial institutions extended 6.46 trillion yuan of medium- and long-term loans to the industrial sector as of the end of March, up 3.2 percent year-on-year.

The increase was 0.6 percentage point less than three months earlier, dragged down by slower loans to the heavy industry, the PBOC said.

Industrial output grew 9.5 percent year-on-year in the first quarter of 2013, down from 11.6 percent recorded last year, official data showed.

Investment in property development gained 20.2 percent year-on-year in the first quarter, faster than the 16.2 percent growth in 2012.

Altogether, outstanding loans by financial institutions in the country totaled 65.76 trillion yuan as of March end, up 14.9 percent year-on-year, but the growth was 0.8 percentage points slower from a year earlier, according to the PBOC.

]]>frontpageThu, 25 Apr 2013 04:00:33 +0000Mainland's investment in Taiwan up 34 pct in Q1http://businesstianjin.com/index.php?option=com_content&view=article&id=6250:mainlands-investment-in-taiwan-up-34-pct-in-q1&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6250:mainlands-investment-in-taiwan-up-34-pct-in-q1&catid=26:china-finance&Itemid=65Taiwan received over $139 million of investment from Chinese mainland businesses in the first quarter of 013, up 34 percent from a year earlier, the island's economic authority said Tuesday.

According to statistics, 29 projects with investment from mainland businesses were given the green light during the January-March period, 12 percent less compared with the same period last year.

In the first three months, Taiwan's relevant authorities approved 133 projects funded by Taiwanese enterprises on the mainland, with involved investment totaling $88.31 million.

Mainland's investment in Taiwan has totaled $642.7 million since the island opened to mainland investors on June 30, 2009.

Had Sichuan province been a country in its own right, its economy might now be facing devastation for the second time in a handful of years, after the 7-magnitude quake in Ya'an over the weekend.

The first was in 2008, when it was hit by the 8-magnitude quake in Wenchuan.

But in reality, Sichuan can rely on economic support from all over China, orchestrated by the central government, and share performances on Monday reflected overall market confidence that its economy will recover from the latest shock.

Both Shenzhen and Shanghai stock markets remained largely flat, but some shares seen as closely related to the events in Sichuan, did react, particularly cement, construction materials, and medical stocks.

Initial official estimates are that about 400,000 houses in Ya'an have been damaged, of which 12,850 have been flattened.

Joined by the extensive destruction of farm resources and public infrastructure, the total economic loss is being estimated at CNY 1.43 billion (USD 230 million).

Yang Weixiao, a senior macro and fixed income analyst at Lianxun Securities Beijing, suggested the final loss could be much bigger, "somewhere between CNY 10 and 20 billion." Losses from the Wenchuan earthquake have been estimated at CNY 845 billion.

Of all the listed companies either based in, or with hefty business interests in Sichuan, 91 released initial damage reports to the market on Monday.

]]>frontpageTue, 23 Apr 2013 05:16:30 +0000Credibility still top concern for Chinese firmshttp://businesstianjin.com/index.php?option=com_content&view=article&id=6237:credibility-still-top-concern-for-chinese-firms&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6237:credibility-still-top-concern-for-chinese-firms&catid=26:china-finance&Itemid=65Business credibility continues to be the top concern for a majority of the private entrepreneurs in China, while policy support for industrial upgrading and market-oriented reforms in monopolized industries top their wish list, a recent survey said.

The survey, conducted by the China Entrepreneur Survey System, a research body under the Development Research Center of the State Council, shows that more than 50 percent of the respondents cited lack of business credibility and monopoly of State-owned enterprises in some key industries as the major hindrances for sustained development of China's private economy.

More than 50 percent of the respondents also called for more policy support from the government on issues like financing, taxation, market registration and supervision, technological upgrading, environmentally friendly operation and fair competition with SOEs.

The survey polled 4,015 top corporate leaders across China between August and October. Nearly 23.9 percent of the respondents were domestic private entrepreneurs, while operating SOEs, foreign-funded companies and collectively owned enterprises made up the rest.

Payment defaults, failure to repay loans, dumping and bribery of officials were the most serious problems cited by nearly 53.9 percent of the surveyed private business owners.

"Chain debts are still a headache despite several years of rectification, especially for small and medium-sized companies and start-ups," said Wang Jianjun, who runs a hotel supplies company in Zhejiang province. Wang says that failure to realize pending payments of over 150,000 yuan ($24,206) from several clients since last March, has led to a short-term liquidity crunch for his business.

"It (liquidity crunch) has put me in dire straits, as I am unable to repay the loans that I have taken from financial institutions and also secure additional financing from other lenders," he said.

In fact, payment defaults and additional financing channels are issues that have hampered the further development of most private enterprises in China. "The government has already urged financial institutions and local governments to expand the lending access for private enterprises. However, it is not so easy to implement the policies as detailed rules are yet to be worked out," said Zhang Houyun, executive director of Chinese Private Economy Research Society.

]]>frontpageMon, 22 Apr 2013 08:37:42 +0000Commerce official upbeat over consumptionhttp://businesstianjin.com/index.php?option=com_content&view=article&id=6231:commerce-official-upbeat-over-consumption&catid=26:china-finance&Itemid=65
http://businesstianjin.com/index.php?option=com_content&view=article&id=6231:commerce-official-upbeat-over-consumption&catid=26:china-finance&Itemid=65A senior commerce official said Thursday he was still optimistic that domestic consumption will accelerate in the coming months and that China is able to achieve a 14.5-percent growth in retail sales this year despite a slowdown in the first quarter.

Speaking at a press conference, Shen Dangyang, spokesman for the Ministry of Commerce, said the authority sees domestic consumption stabilizing in the first six months and picking up pace in the second half of the 2013.

Shen said domestic consumption has contributed to 55.5 percent of growth in gross domestic product in the first quarter, 3.7 percentage points greater than a year ago.

The official's remarks came three days after China registered a nominal growth of 12.4 percent year-on-year in retail sales in the first three months, slowing from 14.8 percent seen in the same period of last year.

The growth rate was also 1.9 percentage points lower than the full-year growth in 2012, triggering concerns over the weakness of the world's second-largest economy.

After adjustment for inflation, the retail sales growth in real terms was only 0.1 percentage points slower than a year ago, Shen said.

He attributed the tepid growth in consumption to slower increases in retail prices and residents' income, declines in auto and oil consumption as well as the government's high-profile efforts to promote frugality nationwide.

As the macro economy warms up and the environment for consumption and investment improves, Shen said, the growth of retail sales will rebound in the third quarter in the midst of income distribution reform and accelerating urbanization.

The government is also studying the possibility of new subsidies for consumption, the spokesman added.

The State Council, China's cabinet, on Wednesday analyzed the domestic economic situation in the first quarter, vowing to coordinate the targets of maintaining steady growth, taming inflation and guarding against risks in future economic work.

China should maintain continuity and stability in its macro-economic policies, with more efforts to deepen reform and intensify structural adjustments, according to a document issued after an executive cabinet meeting chaired by Premier Li Keqiang.

The National Bureau of Statistics on Monday released a slew of economic data, including data indicating that China's gross domestic product growth hit 7.7 percent in the first quarter of 2013, down from 7.9 percent during the final quarter of 2012.

The cabinet said the domestic economy ran smoothly in the January-March period, with major economic indicators within reasonable ranges.

However, confronted with complex domestic and global environments and various problems restricting development, the government needs to strengthen foresight, be pragmatic and take initiative, according to the statement.

At the meeting, the cabinet set key tasks for future economic work. It said effective efforts must be made to guard against risks in local government debts and credit markets, pledging to enhance market oversight and improve products and services.

The government will cut and adjust items requiring administrative approval. It will also make the list available to the public to encourage private investment and inspire entrepreneurship.

Reforms in the fiscal and taxation system, as well as in the pricing mechanism for resource products, will be deepened, the cabinet said, adding that active and proper steps will be taken to liberalize interest rates and make the Chinese yuan convertible under the capital account.

The country will also continue to expand effective domestic demand while keeping investment at a reasonable scale. It will speed up the process of eliminating backward industrial capacity, said the statement.

In the agricultural sector, the cabinet has vowed to increase effective supply, ensure funds for agriculture and cope with natural disasters in a timely manner.

It also urged local authorities to ensure balanced market supply and demand and keep consumer price index stable in general.

In addition, more efforts will be put forth to guarantee and improve people's livelihoods, including efforts to boost employment and improve the social security system, accelerate construction of affordable housing and ensure that it is fairly distributed.

China Mobile's move is seen by many analysts as a strategic step to restructure Fetion and take on Tencent's WeChat.

Growth Enterprise Board-listed Ultrapower applied for a one-day trading suspension for "potential major incidents" on Monday. The company resumed trading on Tuesday, but its stock price dropped by the daily limit of 9.99 percent, closing at 18.56 yuan ($3).

China Mobile's Guangdong branch is conducting the bidding process. Four subsidiary projects, worth 638 million yuan, are listed in the tender.

Zhang Qianshan, general manager of Ultrapower's strategic investment department, said China Mobile wants to enhance its presence in the mobile Internet sector.

"An open tender is to introduce competition, which will be good for Fetion's development," he said.

Li Zheren, an analyst with Beijing Gaohua Securities, expected Ultrapower to win the majority of contracts from China Mobile, based on its experience and talent pool.

"Before the announcement of the open tender result, there will be pressure on Ultrapower's stock price in the short term," he said.

Launched in May 2007, Fetion once enjoyed great popularity and attracted hundreds of millions of users in China.

However, the service faded out recently, largely due to strong competition from Internet companies such as Tencent and Sina.

The growth of China's gross domestic product unexpectedly slowed to 7.7 percent in the first quarter, down from 7.9 percent during the fourth quarter of 2012, the National Bureau of Statistics reported Monday.

According to preliminary statistics, the GDP of China totaled CNY 11.89 trillion (USD 1.89 trillion) in the first three months of the year.

The growth rate of China was weaker than market expectations, but still stayed above the 7.5-percent full-year target for 2013 set by the government last month. The weak economic data from China raised concerns about the possible slowdown of the country's demand for oil.

Downbeat economic news also came from the United States. The general business conditions index of New York State fell to 3.1 in April from 9.2 in March, missing market expectations.

Traders concerned that the US Federal Reserve might tighten the stimulus program earlier than planned as some Fed officials have recently even called for an early end to the bond-buying program. If that happens, the US interest rate would rise, along with the appreciation of the US dollar. Stronger greenback will make the dollar-priced oil less attractive.

Light, sweet crude for May delivery dropped USD 2.58, or 2. 82 percent, to settle at USD 88.71 a barrel on the New York Mercantile Exchange.

Brent for May delivery expired on Monday. The more actively traded June contract was down USD 2.6, or 2.5 percent, to close at USD 100.44 a barrel.